Revised schedule vi

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Rahul Paliwal (Querist)
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27 November 2012 There is a Hotel which is under construction since 10 years as there is a dispute between directors and the financial institution and the only preliminary expenditure is legal & professional fees paid by the company. How these Pre-Operating expenses will be treated according to the revised Schedule VI Keeping in mind that business is still in Pre-Operating Period..??

CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
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27 November 2012 such Pre operative expenses will be added to the cost of the under constuction property and will be shown as "Capital work in progress".

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CA Ravi Kumar

CA Ravi Kumar (Expert)
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27 November 2012 Yes, agree with Mr. Amit

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