Land aquired on lease

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D C Sivastava (Querist)
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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.

pushpendra

pushpendra (Expert)
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14 March 2008 Lease for how much period? it is renewable of not? in my view it rent so paid should be revenue receipt

D C Sivastava

D C Sivastava (Querist)
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14 March 2008 it is for a period of90 years and renewable

CA Saurabh Maheshwari

CA Saurabh Maheshwari (Expert)
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15 March 2008 IT SHOULD BE CHARGED TO REVENUE EXPENDITURE

D C Sivastava

D C Sivastava (Querist)
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15 March 2008 cost of aquiring land shall be capitalised or it will also be treated as revnue expenses

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