Depreciation rate?
This query is : Resolved
07 February 2013
Dear Expert
How to depreciate/amortisize land cost for mining industry?
What is rate of depreciation?
How to depreciate/amortisize land cost for mining industry?
What is rate of depreciation?
08 February 2013
It can be depreciated over the lease period.
08 February 2013
Mr.Kishore,Thanks for your reply.
Can you give source for completing understand.
Can you give source for completing understand.
08 February 2013
There is no specific law prescribed how to depreciate leasehold land. But generally it will be depreciated over its expected economic useful life. If the economic useful life or pattern of getting the benefits is different, then you can choose a different depreciation policy.
08 February 2013
ok.Can we amortisize cost of land used to extract mine products?
08 February 2013
If it is a leased land, then it has to be amortised as discussed earlier.
But if it is a own land, it cannot be amortised.
But if it is a own land, it cannot be amortised.
08 February 2013
If it is a leased land, then it has to be amortised as discussed earlier.
But if it is a own land, it cannot be amortised.
But if it is a own land, it cannot be amortised.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- GST on export of services and Input Credit
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- RCM INVOICING FROM NOV-2024
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
- CASE INTIMATION OF LIABILITY UNDER SECTION 73(5)(Rule 142(1A)
- Need to correct "Whether it is last installment " response in Form 26 QB
Trending Online Classes
CAclubindia
