https://www.taxtmi.com/forum/issue?id=109786 A lessee who constructs a building for business use on leased premises may claim depreciation on the constructed building as a capital asset; depreciation applies to the building and not to the land. When land is acquired and a building constructed, only the construction cost attributable to the building is depreciable; the land cost is non-depreciable and must be excluded from depreciation claims. en-us Mon, 25 Jan 2016 14:33:51 +0530 Thu, 23 Jan 2025 15:56:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=109786 A lessee who constructs a building for business use on leased premises may claim depreciation on the constructed building as a capital asset; depreciation applies to the building and not to the land. When land is acquired and a building constructed, only the construction cost attributable to the building is depreciable; the land cost is non-depreciable and must be excluded from depreciation claims. Discussion-Forum Income Tax Mon, 25 Jan 2016 14:33:51 +0530 https://www.taxtmi.com/forum/issue?id=109786