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Capitalization of assets

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(Querist)
09 June 2015 WE ARE PAYING RENT FOR ANY PROPERTY WITH AGREEMENT. IF WE MAKE ANY RENOVATION ON THAT PROPERTY AT VERY LARGE COST.THEN CAN WE CAPITALIZED THAT COST OF WORK IN BUILDING A/C.
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CA Kapil Verma

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CA Kapil Verma (Expert)
09 June 2015 sure, if the rent agreement id for long term.
and building will be amortize/depreciated over the lease period.


CA. Kapil Verma
Founder-taxadvizer.com
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Rupesh Jain

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Rupesh Jain (Expert)
11 June 2015 you can consider the period then you can amortize the exp. during the lease period.




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