Revised schedule vi
This query is : Resolved
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..??
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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27 November 2012
Yes, agree with Mr. Amit
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