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Tax treatment in case of brick manufacturing industry.

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Ritesh Sharma

Ritesh Sharma (Querist)
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22 August 2011 In case of acquiring of land for the purpose of manufacturing of bricks, Basic raw material of bricks are the soil of the land than how we valued the raw material for business.whether land should be treated as revenue or capital expenses.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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22 August 2011 Purchase of Land is fixed asset not revenue expenses

CA Hardik Bunha

CA Hardik Bunha (Expert)
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22 August 2011 YOUR RAW MATERIAL COST WILL BE ZERO. LAND PURCHASED BY U WILL BE FIXED ASSETS.

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