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Accounting of cost of improvement

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(Querist)
16 March 2015 Whether expenditure incurred on construction of new bus body on the old chassis can be capitalised or charged to profit and loss account.
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CA Kapil Verma

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CA Kapil Verma (Expert)
16 March 2015 It should be capitalised to fixed assets
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Rupesh Jain

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Rupesh Jain (Expert)
17 March 2015 yes you have to capitalized.
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