Fixed assets

This query is : Resolved

Dulal Chatterjee (Querist)
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31 January 2014 Hi,

I have a purchase a flat in the name of my and my wife & paid to developer Rs. 10 lacs from my account & Rs. 5 lacs from my wife's a/c. Also paid stamp Duty, registration fees & other legal exps Rs. 2 lacs and brokerage Rs. 25K from my wife's a/c..

Now my questions are what amount to be shown as fixed assets to the respective owner? can we consider the Exps incurred for stamp duty, Regn. fees, legal expenses & brokerage as fixed assets (included in land & building/flat)?

Dulal

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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31 January 2014 Stamp duty, registration fees, legal expenses and brokerage will be included in the cost of the flat.

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