FBT on Expenses being Capitalised

This query is : Resolved

Vijay Lalla (Querist)
Follow

16 October 2007 What is the status of applicability of FBT on staff related expenses incurred during construction period . Company engaged in construction of Mall is capitalising entire expenses till the final completion of Mall.
In case FBT is leviable how the same is to be reflected in accounts. Whether to capitalise it or to be shown as pre operation expense .

Ankit Dangayach

Ankit Dangayach (Expert)
Follow

16 October 2007 FBT is Levied on all expenses which are liable to FBT irrespective of whether they are capitalised or charged as revenue.Income tax act does not makes any distinction between capital & revenue on this matter.

CMA Gul S

CMA Gul S (Expert)
Follow

17 October 2007 FBT is applicable on all the Expenses paid to the Employee irrespective for Capital or Revenue

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

MAHESHA RAMANNA

Sivakumar

CA Damodaram

prashant

Amirthalingam

Subscribe Now

FBT on Expenses being Capitalised

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA