direct tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 September 2010
" current repair means expenditure incured on building or matchinery not for the purpose of renewal or restoration but for preserving or maintaining an already existing asset " Explain it with example.
CMA Ramesh Krishnan
(Expert)
09 September 2010
If your repair charges increase the current capacity or production capacity is not a current repair expenses - it will be added to the fixed asset and claim depreciation othewise you can debit the P&L and claim expenses
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