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Land depreciation %

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Querist : Anonymous

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Querist : Anonymous (Querist)
21 April 2012 IF we have purchased land for office use like Warehouse then it is aaplicable or not if aaplicable then how much is aaplicable ?
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CA Mahesh Vekariya

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CA Mahesh Vekariya (Expert)
21 April 2012 PROVIDE DEPRECIATION CONSTRUCTION MADE ON THAT LAND.

LAND IS NOT A DEPRECIABLE ASSET

RATE OF DEPRECIATION ON BUILDING SHALL 10% AS PER SECTION 32 OF INCOME TAX ACT
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CA Ankit Gulgulia (Jain)

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CA Ankit Gulgulia (Jain) (Expert)
21 April 2012 No Depreciation on Land
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CA PRAVEEN SINGH

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CA PRAVEEN SINGH (Expert)
21 April 2012 yes agree with above ...
land is not a deprecible assets

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