depreciation
This query is : Resolved
08 June 2009
we hv taken a building on rent and hv renovated it with huge amount
where should we take the building renovation expense like paints, timber, steel rods etc
do we hv to take it as a asset or to take it as a indirect expense
where should we take the building renovation expense like paints, timber, steel rods etc
do we hv to take it as a asset or to take it as a indirect expense
08 June 2009
If the building is taken on rent for a long period, the expenses incurred are of huge amount and the benefit of the same is going to be enjoyed for more than one year such expenditure should be capitalised and depreciation should be claimed on it at the rates prescribed.
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
- Post Office RD Interest
- Building and other construction workers welfare cess act 1996
- Bank Accounts in Balance Sheet for ITR 3
- ITR validation error - Balance sheet is not filled
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Eway bill for machinery reparing
- Applicable TDS for Purchase of Flat from NRI
- Annual return of gst limit
- TDS ON CASH WITHDRAWALS...
- Form 10BD Filling
- Taxation in the hands of Landowner under JDA
- Change the gender in the registration of icai
- Lift replacement entries in housing society
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
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
