Accounting treatment for interior decoration expenses
This query is : Resolved
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Purvi Rajpal
(Querist)
25 February 2015
Should interior decoration expenses incurred for office be written off wholly as expenses in the year the expenses are incurred
or should be capitalized and depreciated and if depreciated under which block should they fall
or should be capitalized and depreciated and if depreciated under which block should they fall
25 February 2015
yes transfer it to profit and loss a/c as it does not increase the life of asset except its a heavy repairing done.
Rupesh Jain
(Expert)
25 February 2015
ANY FURNITURE OR EQUIPMENT HAVE LIFE THEN YOU CLAIM DEPRECIATION AND OTHER THAN ABOVE DEBIT TO EXP A/C.
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