Exp on rented property
This query is : Resolved
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manjeeta modi
(Querist)
14 September 2021
Hello, everyone..... Good Evening....... My Company incurred a big amount of contraction expense on rented factory premises and lease period is 3 years.
now my ques is how can I book these expense ...........
kindly suggest an appropriate accounting method........
thanks in advance
now my ques is how can I book these expense ...........
kindly suggest an appropriate accounting method........
thanks in advance
CA R SEETHARAMAN
(Expert)
14 September 2021
Capitalise the expenses and charge depreciation as business expenses. Treat lease rent as business income.
15 September 2021
If your company is lessee, the expenditure can be amortized over the lease period.
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