Building expenses
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 November 2013
please answer this question.ASAP
if we make renovation and decoration for the building.generaly building is asset.if we make any renovation like paint,carpenter work,sanitary, fixed a floor tiles, ele fittings ,etc.those all expenses are added to capital account or building are not
if we make renovation and decoration for the building.generaly building is asset.if we make any renovation like paint,carpenter work,sanitary, fixed a floor tiles, ele fittings ,etc.those all expenses are added to capital account or building are not
10 November 2013
As per AS-10 only those exp which increases the future earning capacity beyond the previously assessed performance or which increase its useful life then nlyit should be caitalise.
In your case it needs to be debited to P & L.
In your case it needs to be debited to P & L.
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