Fixed Assets or not

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A query discusses the accounting treatment for a PPGI coated coil sheet installed on a roof for fire safety, costing approximately £1 lakh. The consensus is that this installation should be booked under repair and maintenance, rather than being capitalised or treated as furniture and fixtures.

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(Querist)
08 September 2022 we install a ppgi coated coil sheet for shade on roof for fire safety can we booked it in capitalized or under repair & maint. cost is 1 lakh approx?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
08 September 2022 Book it under repair and maintenance.
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Pardeep

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Pardeep (Querist)
08 September 2022 Can we booked it under Furniture & Fixture?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
08 September 2022 No, it's not furniture and fixtures.
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