Re: construction of lab.done in the rented premises
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 June 2013
Construction of Laboratory including electrical fittings is done on the rented premises and then the premises was handed back to the landlord with all the modifications, please suggest the accounting treatment.
13 June 2013
pls take elelctrical fiting as fitting
and depreciate every year as machinery
and depreciate every year as machinery
04 July 2013
You have not done any repairs to the premises of others therefore you have to capitalise it. In other words if there was already electrical line when you took the rented premises on rent then you can treat this as revenue expense but as regards labotary you cannot charge to revenue because it has connection with your business and landlord has nothing to do with it so capitalise it
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
- Refund Annexure-B
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- Liable to deduct tds and 44ADA
- GST Reverse
- Clarification regarding Import E-way bill transaction type // Regular or Bill from Dispatch From
- Sale of Equity shares for Purchase of Residential Property
- Payment to foreign customer
- Two seprate Invoice needed
- Non issue of e way bill
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS PROCEDURE ON SALE OF IMMOVABLE PROPERTY BY NRI
- Refund of 20%pre-deposit paid for stay application
- ASISSE return under the provisions of the Collection of Statistics Act, 2008 (7 of 2009)
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
