Vastu planning expenses

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Souvik Kumar Ghosh (Querist)
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30 October 2012 Whether vastu planning expenses for building can be capitalised & does such payment attract TDS?

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Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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30 October 2012 Yes, these expenses should be capitalise. And i think such expenses attracts TDS u/s 194J, because of this is professional fee. Eventhough if you not deducted TDS then it wouldn't disallow because of you didn't debited these expenses to P&L account but you default to Chapter XVIIB thus you may liable for penalty to non-deduction of TDS.

OM SAI SRI SAI JAI JAI SAI

Souvik Kumar Ghosh

Souvik Kumar Ghosh (Querist)
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30 October 2012 Can you please provide logic behind your conclusion that these exp should be capitalise?

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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30 October 2012 Because of these expenses make regarding to the purchase or construction of a capital asset. In case this expenses made after the purchase of asset and after the being it putting in use(i.e for making of necessary repairs to already using building for the purpose based on the vastu) then it would be debit to P&L account either separate head or under the repairs to building head.

OM SAI SRI SAI JAI JAI SAI

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