Fixed asset
This query is : Resolved
21 October 2011
dear all
Pls tell me following.
My company has decided to make a garden in office premises. let me know that can i show this garden in fixed asset? second if yes tell me how i will take deprecation on garden.
or expense out all expense incurred on garden.
Pls tell me following.
My company has decided to make a garden in office premises. let me know that can i show this garden in fixed asset? second if yes tell me how i will take deprecation on garden.
or expense out all expense incurred on garden.
21 October 2011
In my opinion, the garden will not add any value to the useful life of the office. Hence it should be charged to P&L in the year of expense.
Secondly, if the office premise is on lease, it can be capitalized as leashold improvements and depreciated over the period of balance lease
Secondly, if the office premise is on lease, it can be capitalized as leashold improvements and depreciated over the period of balance lease
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- House Property Reporting in ITR
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Rent lease agreement
- Liable to deduct tds and 44ADA
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- Refund of 20%pre-deposit paid for stay application
- TDS Challan Code
- CCFS 2026 Schemed
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
