26 May 2009
Assuming that the company wants to stay in the business for a long period. i.e. more than one year, the company should capitalise the assets that have been installed in the leasehold premises. Wooden Cabins/electrical fittings should be treated as Furniture and Fittings. Workstations as Computers etc. Accordingly depreciation should be claimed from May 2008
CAclubindia
