Plz help me
1) Whether Imported goods confiscated by Custom is a Capital loss or Deffered Revenu expenses?
2) Pilferaged of certain ites is Capital loss True or False ?
3) Renewal fee for Patent is a Capital Expenditure or Revenue Expenditure ?
Plz help me
1) Whether Imported goods confiscated by Custom is a Capital loss or Deffered Revenu expenses?
2) Pilferaged of certain ites is Capital loss True or False ?
3) Renewal fee for Patent is a Capital Expenditure or Revenue Expenditure ?
Confiscated----not a capital loss
Pilferage----Revenue loss
Renewal of patent---Not a capital asstet..aquisition is asset..
Regards,
Plesae correct me if i am wrong
Many Thanks Mr Sunny for ur valuable help !!
With Regards;
Dharmendra.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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