Capitalization of assets
This query is : Resolved
KUSH WADHWA
(Querist)
09 June 2015
WE ARE PAYING RENT FOR ANY PROPERTY WITH AGREEMENT. IF WE MAKE ANY RENOVATION ON THAT PROPERTY AT VERY LARGE COST.THEN CAN WE CAPITALIZED THAT COST OF WORK IN BUILDING A/C.
CA Kapil Verma
(Expert)
09 June 2015
sure, if the rent agreement id for long term.
and building will be amortize/depreciated over the lease period.
CA. Kapil Verma
Founder-taxadvizer.com
and building will be amortize/depreciated over the lease period.
CA. Kapil Verma
Founder-taxadvizer.com
Rupesh Jain
(Expert)
11 June 2015
you can consider the period then you can amortize the exp. during the lease period.
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