Capitalisation of renovation work done at rented building

Hello everyone,

My query is:

How to capitalise and depreciate the amount of renovation work done at rented building? The work includes Dismentaling of some existing floor work, some construction and interior works.

Kindly give your view in the context of Companies act and Accounting standards.

and as per Income tax act seperately?

Best Regards,

Hammad

 

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