Capitalisation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 June 2010
Dear Experts ,
I am in the finalisation process of an educational institution
. They have debited a lot of expenditures on there building as building and maintainence a/c (Dir Exp) and under some other expense heads. My query is that upto what limit can be treated as expenditure and above what limit should be capitalised ? What is the crieteria for that ?Is it related to amount or nature of expense?If yes what is the criteria Kindly help...
Also please let me know the depreciation rates of Xerox machiene and Water Purifier.
I am in the finalisation process of an educational institution
. They have debited a lot of expenditures on there building as building and maintainence a/c (Dir Exp) and under some other expense heads. My query is that upto what limit can be treated as expenditure and above what limit should be capitalised ? What is the crieteria for that ?Is it related to amount or nature of expense?If yes what is the criteria Kindly help...
Also please let me know the depreciation rates of Xerox machiene and Water Purifier.
23 June 2010
check the nature of all expenses than debit those to fixed asset OR revenue expenditure
if educational institution is registered in 12A, 12AA, 11 than it would get the deduction of all expenses whether debited to fixed asset OR revenue expenditure
the depreciation rates of Xerox machiene and Water Purifier is 15 %
if educational institution is registered in 12A, 12AA, 11 than it would get the deduction of all expenses whether debited to fixed asset OR revenue expenditure
the depreciation rates of Xerox machiene and Water Purifier is 15 %
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- House Property Reporting in ITR
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Refund of 20%pre-deposit paid for stay application
- Rent lease agreement
- Relief u/s Section 89
- TDS Challan Code
- Nomination of Bank for refund in itr 2
- REGARDING SECTION 44AE
- Lease agreement and tax on sale
- Supply through E-commerce Operators
- STCG on ETF gold & silver
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
