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Capatilization

This query is : Resolved 
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(Querist)
19 December 2014 Dear All

One of my client has planted bamboo tress worth Rs1.50 lakhs to absorb waste water discharged by its factory. Life of bamboo trees is estimated to be 15 years. Should it be treated as Fixed asset or not?

regards,
Vinay
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
19 December 2014 no, as it not fulfilling the definition criteria of becoming asset.
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CA Kumar Mukesh

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CA Kumar Mukesh (Expert)
20 December 2014 It is not fixed within the definition given under Accounting Standard-10 "Accounting for Fixed Asset"
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Rupesh Jain

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Rupesh Jain (Expert)
20 December 2014 no it is not the fixed assets its expenses for you.
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Rupesh Jain

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Rupesh Jain (Expert)
20 December 2014 no it is not the fixed assets its expenses for you.
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