Leasehold improvment
This query is : Resolved
26 July 2010
Please explain what is leasehold improvment? how it is to be treated in books of accounts?
27 July 2010
It should be capitalised and be written over the period of the lease.
27 July 2010
Whether it is to be disclosed under the head intengible asset or some other head?
is it deductible for tax computation?
is it deductible for tax computation?
27 July 2010
Leasehold improvements are part of furniture & fixtures only and dep is charged on enhanced value and the same is not allowable for income tax purpose. In IT dep allowable on normal rates only.
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