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Improvements to a rented building

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Querist : Anonymous

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Querist : Anonymous (Querist)
28 November 2015 My client has recently started a consultancy service and took a building on rent .He incured nearly Rs.1 lakh for improvements of the said building like ceiling,construction and partition of walls etc.How should this be accounted? Whether he can capitalize it or treat the same as expense?
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Amol S Joglekar

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Amol S Joglekar (Expert)
29 November 2015 The expenditure is of revenue expenditure, so far as income tax act is concerned.

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