Compound wall expenditure
This query is : Resolved
21 January 2009
Dear All,
I am in construction company, we generally follow practice of showing compund wall expenditure separate from Land expenditure under the head of developement expenses.
Now my question is whether it is right accounting policy or it should be shown as land expenses only.
Please let me know solution for the same with reason.
Thanking You
Regards
Rakesh
I am in construction company, we generally follow practice of showing compund wall expenditure separate from Land expenditure under the head of developement expenses.
Now my question is whether it is right accounting policy or it should be shown as land expenses only.
Please let me know solution for the same with reason.
Thanking You
Regards
Rakesh
sheena Teckchandani
(Expert)
21 January 2009
Compound wall expenses should be kept separate from land cost and should be added to the cost of construction to claim depreciation on it.
K V Subba Rao
(Expert)
21 January 2009
Very logical answer by Sheena
24 January 2009
For us it is nothing but sttock in trade so any how we cant take depreciation benefit on the same.
Sheena please give me v v specific answer.
Thanks for your interst.
Sheena please give me v v specific answer.
Thanks for your interst.
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