Capitalization of residential colony building of company.
This query is : Resolved
27 July 2016
Dear Sir/Madam,
We want to capitalized ELEVATOR but don't know Nature of Asset and Useful life.
Kindly suggest for the same.
Regarsd
Mitul Shah
We want to capitalized ELEVATOR but don't know Nature of Asset and Useful life.
Kindly suggest for the same.
Regarsd
Mitul Shah
28 July 2016
There are two ways you can treat ELEVATOR. It can be part of the building and thus capitalized with building. In such case the life of asset would be 30 years. But if you want to follow component accounting, ELEVATOR can be shown separately and can be part of equipment and life of asset would be 10 years.
Message likes :
1 times
28 July 2016
Thanks a lot madam....
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
- Taxable or Tax exempt
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- TDS Deducted AY-2013-14 Not Reflected in 26as
- ADVANCE PAYMENT OF ADVOCATE
- NRI starting business in India
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- Query – TDS on purchase of land from NRI under Income-tax Act, 2025
- GST not cancelled by tenant
- Condonation . E-Verification of last year return .
- Eway bill generation from place other than registeted
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
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
