Capitalisation of Leasehold Land
This query is : Resolved
Subash Gaijes
(Querist)
27 March 2008
I want to know the accounting treatment for the below mentioned situation of a leasehold land.
Lease Period : 99 Years
Plot Deposit : 5.5 Lac (Refundable)
Development Charges : 14.5 Lac (Non Refundable)
Water Plant Cost : 3 Lacs ( Non Refundable)
How much should i capitalize? How much to be shown as deposit?
Give your suggestions
Lease Period : 99 Years
Plot Deposit : 5.5 Lac (Refundable)
Development Charges : 14.5 Lac (Non Refundable)
Water Plant Cost : 3 Lacs ( Non Refundable)
How much should i capitalize? How much to be shown as deposit?
Give your suggestions
CA Praveen Chopra
(Expert)
27 March 2008
Deposit amount can`t be capitalised since it is refundable.Remaining both items should be capitalised.
28 March 2008
CAPITALISE 17.5 LACS(14.5+3) BEING NON REFUNDABLE
Subash Gaijes
(Querist)
28 March 2008
Thanks for your comments to support my opinion
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