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Leasehold land treatment

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Querist : Anonymous

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Querist : Anonymous (Querist)
05 September 2012 Hi

What will be the treatment of leasehold land in income tax. If it is capitalized, whether depreciation can be claimed..??
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Pankaj Gupta

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Pankaj Gupta (Expert)
05 September 2012 Leasehold land is treated in the same manner as if owned by the assessee.
and on land , depreciation can't be claimed. dep is not allowed on land.

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