cap exp
This query is : Resolved
22 March 2010
what is the treatment of capital expenditure incurred for office remodernization while computing taxable income and how it should be dealt while it is accounting for?
22 March 2010
Building, Furniture & Fixuturse and Office Equipments are need to be capitalised in Income tax as well as in books of Account.
Applicable Depreciation under the IT act will be reduced from the business profit.
Bulding, F & F- 10%
Equipments - 15%
If it is company then Dep. as per Co. Act have to be charged to them in books of Account otherwise the Depreciation under IT Act can also be charged.
Applicable Depreciation under the IT act will be reduced from the business profit.
Bulding, F & F- 10%
Equipments - 15%
If it is company then Dep. as per Co. Act have to be charged to them in books of Account otherwise the Depreciation under IT Act can also be charged.
22 March 2010
agreed
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