one of our client paid Rs.25 Lac to water supply board which is one time expenditure and it is non-refundable.
should i treat as preliminary expenditure and write-off over the period of Ten years?? or is there is any other way of accounting
CA Devika K ACA., (Chartered Accountant) (32 Points)
04 August 2014one of our client paid Rs.25 Lac to water supply board which is one time expenditure and it is non-refundable.
should i treat as preliminary expenditure and write-off over the period of Ten years?? or is there is any other way of accounting
PRADEEP S
(Finance Manager(B.Com. M.Com. M.Phil. LLB. MA. MBA. MFT. MCS. CA Inter CMA Inter))
(216 Points)
Replied 04 August 2014
Hi,
The facts are incomplete to reply, can you please elaborate nature of expenditure is incurred?
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