Cost of interior work
This query is : Resolved
26 September 2016
Dear all
Our company start retail out let in kerala. Cost of interior is around 40 lakhs (it include painting , carpenter work ,design work etc)
I treat this as fixed asset . Our auditor says that rent agreement is below 7 years so enter interior amt treated as expenses.
Expecting your suggesting in this matter.
with regards
Binu
Our company start retail out let in kerala. Cost of interior is around 40 lakhs (it include painting , carpenter work ,design work etc)
I treat this as fixed asset . Our auditor says that rent agreement is below 7 years so enter interior amt treated as expenses.
Expecting your suggesting in this matter.
with regards
Binu
26 September 2016
how can it be CAPITAL expenditure in the rented premises?
If the furniture and Fixtures are of removable nature, you can capitalise the same....
but painting expenses and design expenses......the y are revenue in nature
If the furniture and Fixtures are of removable nature, you can capitalise the same....
but painting expenses and design expenses......the y are revenue in nature
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