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Legal fee

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Querist : Anonymous

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Querist : Anonymous (Querist)
19 May 2012 Legal fee paid to advocate for drafting land registration documents and other related work; the same can be included in the cost of land or can be treat as a revenue expenditure.

Kindly clarify it.
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Sanjay Chauhan (IFRS)

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Sanjay Chauhan (IFRS) (Expert)
19 May 2012 All cost directly attributed to acquisition of asset are included in the cost of asset.

Hnece legal fees paid to advocate for the purpose of acquiring land is directly attributed to land and hence to be capitalised.

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