Expense - capitalise or write off?
This query is : Resolved
04 January 2012
The client is a software company and has rented a huge commercial property(not lease). It has spent Rs.40lakhs on interiors and furnishing.
Can the expense be capitalised? if so what will the the depriciation rates applicable??
Can the expense be capitalised? if so what will the the depriciation rates applicable??
04 January 2012
Yes these expenses can be capatilise because the expenses are of enduring nature
Different assets are depreciated at different rates you have to evaluate the life of the asset for determining the depreciation rate.
the assets which are permanently fixed in the leased assets are to be depreciated up to the term of lease period.
Regards
Different assets are depreciated at different rates you have to evaluate the life of the asset for determining the depreciation rate.
the assets which are permanently fixed in the leased assets are to be depreciated up to the term of lease period.
Regards
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