Capitalization of epoxy flooring
This query is : Resolved
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manish gupta
(Querist)
06 February 2024
Hi,
we have existing cement concrete floor in factory premises. now we are doing epoxy flooring on existing floor, can we capitalize epoxy flooring, please advise.
Regards
we have existing cement concrete floor in factory premises. now we are doing epoxy flooring on existing floor, can we capitalize epoxy flooring, please advise.
Regards
CA R SEETHARAMAN
(Expert)
06 February 2024
Yes, it can be capitalised.
Charge it as repair and maintenance expense to claim income tax benefit.
Charge it as repair and maintenance expense to claim income tax benefit.
manish gupta
(Querist)
07 February 2024
thanks sir,
if any justification for auditor in relation of capitalization.
if any justification for auditor in relation of capitalization.
CA R SEETHARAMAN
(Expert)
07 February 2024
Life is more than one year.
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