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Stamp Duty As Expense

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Querist : Anonymous

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Querist : Anonymous (Querist)
03 February 2010 We have Purchase a Land for Factory on Lease from GIDC, We have paid Some amount as Stamp Duty to GIDC, Can Stamp Duty be claimed as Expenses Or it has to be added as Cost of Land Purchase.
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CA. Varun Goel

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CA. Varun Goel (Expert)
03 February 2010 All expenses which should be incurred to bring the asset in the working condition is capitalized.
In this case, stamp duty has paid to seller to purchase the land, so it should be capitalized.
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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
03 February 2010 It is to be capitalized
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CA. Gurdeep Singh Chawla

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CA. Gurdeep Singh Chawla (Expert)
03 February 2010 capitalised
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