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Stamp Duty

This query is : Resolved 
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(Querist)
02 April 2009 I want to ask that we are prop. concern we have purchase plot costing Rs. 12,55,000 /- and besides that we have paid 80000 /- for stamp duty can we add stamp duty in the in the value of plot and we also want to show these expenses in my Indirect Expenses so can i. Please sought out my problem and tell me the journal entry of the above said


Thanks in advance.
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CA. B.SRINIVASULU

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CA. B.SRINIVASULU (Expert)
02 April 2009

The stamp duty you paid will be added to the cost of the land. Stamp duty is a capital expenditure and you cannot claim it as revenue expenditure.
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