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

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
Follow

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.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now