Depreciation

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Querist : Anonymous

Querist : Anonymous (Querist)

18 May 2014 Why is leasehold land depreciated?

Sandeep Dharar

Sandeep Dharar (Expert)
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19 May 2014 Depreciation is not applicable on land. Only appreciation is done to it.

Querist : Anonymous

Querist : Anonymous (Querist)

20 May 2014 but the rules say that in case of leasehold land it is provided.

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Sandeep Dharar

Sandeep Dharar (Expert)
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20 May 2014 Forward the attachment or link from where u got it.

Querist : Anonymous

Querist : Anonymous (Querist)

22 May 2014 Sir I'm unable to get the link but please clarify one question - Isn't it true that since the useful life of land is unlimited, no depreciation is charged on it but in case of leasehold land its life is limited upto the period of lease, therefore depreciation is charged on it?