Accounting for stamp duty paid for lease deed for rentals
This query is : Resolved
Govindan Ganesan Iyer
(Querist)
29 August 2011
What is the treatment to be given to stamp duty paid at the time of entering into a lease for rental premises for a period of 12 years. Will be it amortised over the period of 12 years or will it be expensed in the same accounting year in which it is incurred/paid. Under which AS is it specified
Aditya Maheshwari
(Expert)
29 August 2011
That would be registration fees paid and can be written off in the year of expense itself.
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