False ceiling work - wheather to capitalize or treat as expenditure
This query is : Resolved
Quick Summary
Rajesh Raj
(Querist)
26 August 2022
hello sir,
Government given an old building to a society for residential school purpose for which the concern school made renovation which includes false ceiling in the dormitory.
can we capitalize it or it can be treated as expense?
Government given an old building to a society for residential school purpose for which the concern school made renovation which includes false ceiling in the dormitory.
can we capitalize it or it can be treated as expense?
Dhirajlal Rambhia
(Expert)
26 August 2022
You can capitalize it.
Rajesh Raj
(Querist)
27 August 2022
@dhirajlalrambhia Sir, can you support the statement with the reason.
Dhirajlal Rambhia
(Expert)
27 August 2022
Its not repairs or routine job. Based on its life span, it should be capitalized.
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