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can we depreciate land &building and whats the rate of
dereciation
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Answer Posted / paresh gupta
land can never be depreciated.
As per accounting standard 6 "depreciation
accounting"issued by Institute for chartered accountant of
india.the following assets cannot be depreciated
1.natural resources
2.goodwill,and other intangible asset(covered under
accounting standard 26)
3.an asset which has infinite life.
4.any investments
query regarding depreciation of land can be solved as land
has an infinite life.
| Is This Answer Correct ? | 14 Yes | 1 No |
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