Treatment of expenses incurred during construction period
This query is : Resolved
Jyoti Kale
(Querist)
10 February 2016
Hello Experts,
Please tell me exps incurred during construction period such as Architect fees, Legal fees, survey charges etc. need to be amortised after the completion of Construction or it should be capitalised???
If amortised over the fixed period of time then in what period??? and also treatment of this exps is same as preliminary exps??
Thank You...
Please tell me exps incurred during construction period such as Architect fees, Legal fees, survey charges etc. need to be amortised after the completion of Construction or it should be capitalised???
If amortised over the fixed period of time then in what period??? and also treatment of this exps is same as preliminary exps??
Thank You...
CMA Ramesh Krishnan
(Expert)
10 February 2016
It can be capitalised as fixed asset under self constructed.please refer AS-10
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