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Income tax

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14 November 2013 Dear Sir

If Company has constructed the godown for own business on his director's land, can company claimed depreciation on godown as per income-tax act? kindly reply me.
Thanks
Vinod

14 November 2013 No,

The land is owned by director and not by company. so it will not be claimed depreciation.

14 November 2013 not claimed as depreciation


14 November 2013 i would respectfully disagree. The depreciation on godown shall be available to the company. Ownership of the land shall have no bearing on it.



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