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Disclosure and depreciation on leasehold land

This query is : Resolved 

18 August 2011 Fact: My Auditee has acquire a land on lease for 30 years from M P Govt and construct factory building theiron.

Que.
1. Disclosure under Sch. VI for Leasehold Land and Building
2. Depreciation rate on Leasehold land and Building under Income Tax Act and Company Act

18 August 2011 Land never depreciates.
show at purchase price or fair value.



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