Land aquired on lease
This query is : Resolved
14 March 2008
a govt company aquired land on lease on nominal amount with certain amount of rent which is to paid annualy.rent so paid will be capitalised or otherwise.
14 March 2008
Lease for how much period? it is renewable of not? in my view it rent so paid should be revenue receipt
14 March 2008
it is for a period of90 years and renewable
15 March 2008
IT SHOULD BE CHARGED TO REVENUE EXPENDITURE
15 March 2008
cost of aquiring land shall be capitalised or it will also be treated as revnue expenses
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