Capitalisation of assets
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 December 2013
A company has purchased furniture from a dealer and the same person has done paint and electricity job of the office and submitted a single bill the company has capitalised the whole amount along with the paint & electric job as furniture and fixture. I also want to know whether TDS has to be deducted from the amount while making payment
17 December 2013
If painiting and electricity job is also done then it should be expensed out in profit and loss a/c and should not be capitalise as it does not fulfill AS 10 criteria.
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