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Income tax

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(Querist)
24 November 2011 Advance for Machinery purchase - can i capitalise this amount ?
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CMA. Subhash Kumar Jha

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CMA. Subhash Kumar Jha (Expert)
24 November 2011 Until you receive the Machinery....Y can not capitalize it.
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
24 November 2011 The advance will be capitalised only on receipt of machinery. Till then it will be shown as an advance in the Balance Sheet.
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