Depreciation
This query is : Resolved
17 August 2010
Asseessee is a trust and runs school. It has taken a land on rent from a Pvt. Ltd. co.Assessee has constructed a building theron. Can it claim depreciation on it?
If Yes, Plz refer any case law or circular
If Yes, Plz refer any case law or circular
17 August 2010
As per the section 32 depreciation can be claimed on building constructed on lease land. There is no condition for having ownership on the land.
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