banner_ad

Can we treat class room repairs as Fixed assets

Others 388 views 3 replies
I have one client, running school, and he done some repair work to the classrooms, can we treat those repairs as additional Fixed assets during year or claim as an expenses.
Replies (3)
direct expenses
becz its one time expenses during so many previous year ....

 Any expenses to be treated as capital expenditure basically these conditions should be satisfied:

1.Such expenses substantially increases the useful life of Asset

2.Such expenses is likely to expand the entity's ability to generate the future economic benefits.

If above conditions are satisfied,then such expenses should be capitalized.

If expenses incurred for merely maintaining the assets ,then it should be recognised as Revenue expenditure.. 
 

I think it would be helpful for you. Thank you!!!

thank you Santosh pandey


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
09 June 2026
Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details
Company
14 May 2026
Senior Accounts Executive

Karan Gupta & Co.

New Delhi

Graduate (Any)

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details