Menu
Accounting for Pre Capitalisation Expenses
What would be the accounting treatment for general expenses before the start of commercial production of a project. Is any AS provides guideline for the same.
Replies (2)
You may refer to the Guidance Note on Treatment of Expenditure during the Construction Period, an ICAI publication
It depends on the nature of expenses. Prima-facie it must be put into Miscellaneous Expenditure and be written off (100%) in the first year of commercial production itself.
Recent Topic
- Provident fund taxation
- ITR3 AY 26-27 Error in filling status
- Queries on TDS as per IT
- Capital Gains set off on Sale of Land if held for
- ITR Form for income from freelance consultancy
- Gst rate for HSN code 28530010
- Health Insurance
- India GST Mobile App
- Reporting STCG on non equity oriented MF
- Section 54F exemption for buying a plot
Related Topics
CAclubindia
