Depreciation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 May 2012
A person took a land on lease and constructed a building on that land now my question is whether he can claim depreciation on such building or not.But he is not the owner of land so i think entire amount has to be claimed has revenue expenditure is it right? please clarify me on this
Guest
Guest
(Expert)
29 May 2012
Depreciation will be allowed in this case even if land is lease hold.
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29 May 2012
Yes i am too satsisfy with the opinion of MR Ketan as he will become deemed owner and can claim depreciation on the same amount!
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