Treatment of afforestation expenditure
This query is : Resolved
01 June 2015
During the audit,I've found Afforestation expense of Rs.53,348/- was capitalized,in fact the client have no forest land.How shall this expenditure be treated,either capital or revenue?I've studied in AS-10,that if the afforestation was made in the forest land,then that expenditure will qualify as Capital Expenditure under AS-10.
Seeking clarification???
Seeking clarification???
01 June 2015
Afforestation expense may be incurred other than on forest land to control pollution or for green belt development on own land which can be capitalized if it will fetch income on cutting trees. AS-10 not applicable for such expenses.
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