Stamp Duty As Expense
This query is : Resolved
Querist : Anonymous
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.
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.
In this case, stamp duty has paid to seller to purchase the land, so it should be capitalized.
03 February 2010
It is to be capitalized
03 February 2010
capitalised
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