07 July 2012
Our auditee has taken a land on a 200years lease at a cost of 1 crore. It wants to depriciate the cost at 10% WDV.Is it justified ? Please suggest.
07 July 2012
yes, you can AS-6 clearly say This statement also does not apply to land unless it has a limited useful life for the enterprise. and in your case Land has limited useful life i.e. 200 yrs
CAclubindia
