Capitalisation of painting expenses
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 November 2012
Overall Painting of college was made for which amount of Rs. 700000 was expended. whether such amount should get capitalised or treated as revenue exp.
16 November 2012
Painting of existing building whether for one room or for entire college and whether that amount is for Rs.7 or Rs.7 lakhs is always revenue nature.
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 November 2012
will you please provide me section and legal explanation to give the detail in legal language to the client
20 November 2012
An expense is to be capitalised only when it increases the output or results in additional benefit. Painting expense does not result in any additional benefit and accordingly it is a revenue expenditure.
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
- Employee secondment
- Ito add credit side of bank
- Reward for festival
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- GSTR9 Annual Return
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- Appointment of Auditor By Form ADT-1
- TDS Return Statement Status
- Rent agreement of House of deceased person
- Rectification under processing even after 6 months cpc portal
- Upload Level ValidationITR3Category of Defect B/D
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
