Capitalisation of expenses
This query is : Resolved
16 December 2013
If a person has taken a property on rent and incurred expense on renovation, can this expense be capitalised
please qoute section for your answer
please qoute section for your answer
Ganeshbabu K
(Expert)
16 December 2013
Can be capitalised and required to be depreciated over the peirod of lease or rental period
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16 December 2013
Thanks sir but pls qoute the supporting with section or case law
Ganeshbabu K
(Expert)
16 December 2013
no section or case law available
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generally any fixed asset is required to depreciated over the period of its useful life
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so here we can take lease period/rental period can be taken as useful life
,.
.
generally any fixed asset is required to depreciated over the period of its useful life
..
so here we can take lease period/rental period can be taken as useful life
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