Accounting treatment for Construction of building on landlord property.
This query is : Resolved
Umashankara HB
(Querist)
28 November 2022
The landlord is offering the land wherein the beneficiary need to construct and use the building. Surrender the building at the time of maturity. For this contact there is no cost involved during the entire process.
In this case How to treat construction expenses & Expenses incurred for building maintenance in upcoming periods?
In this case How to treat construction expenses & Expenses incurred for building maintenance in upcoming periods?
CA R SEETHARAMAN
(Expert)
28 November 2022
Capitalise the construction expenses as lease hold building and charge depression over the period of lease.
Charge maintenance expenses to revenue.
Charge maintenance expenses to revenue.
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