New construction
This query is : Resolved
07 February 2008
Dear Sir,
Our Institute is going to construct new building for starting a college. Amounts spent for this construction work will go under which heads in accounts. Should we maintain a separate account for this. Expenditure will be on geological survey and soil testing, architects fees, building materials, contractors charges, etc.
Thanks
Our Institute is going to construct new building for starting a college. Amounts spent for this construction work will go under which heads in accounts. Should we maintain a separate account for this. Expenditure will be on geological survey and soil testing, architects fees, building materials, contractors charges, etc.
Thanks
S.Srinivasaraghavan
(Expert)
07 February 2008
'Building under construction account' till the building is completed. All the heads of expenditure you have mentioned will go under this head.
07 February 2008
Building under construction account will be capital expenses or indirect expenses. If capital expenses under which ledger, whether Fixed Assets?
Thanks
Thanks
07 February 2008
Building under construction account will be capital expenses or indirect expenses. If capital expenses under which ledger, whether Fixed Assets?
Thanks
Thanks
S.Srinivasaraghavan
(Expert)
07 February 2008
Yes it is capital expenses and should be exhibited under fixed assets schedule.
Gaurav Gupta
(Expert)
21 February 2008
The expenditure on new building shall be capitalised under fixed assets.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- EPF ECR NEW FILE SEP 17TH 2026
- TDS Challan - change of FY 2025-26 to TY 2026-27
- Gst registered proprietorship firm
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- Capitalgain tax purposes for valuation report compulsory
- TDS on Fixed Assets purchased
- GST Intimation due to Government took possession of Business Premises under PPE Act
- TDS on purchase of under construction property from a reseller
- Non filing of I T Returns
- SALARY CAN BE CAPITALIZE
- TAX AUDIT ON PROFESSIONAL INCOME
- Under marginal scheme
- Import of Software Service.
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- GST on Renting godown to KFCSC for Storage of Raagi
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
