Dear Experts
Good Morning.
I need a guidance.
| We have spend an amount towards repairs in building to the tune of around Rs.30 lakhs and decided to capitalise. |
| Suppose if we book this as expenditure will it is allowable under income tax act. |
| If it has to be booked as asset what is the criteria |
|
How this has to be treated in the books what will be the treatment in the books of accounts Thanks & Regards S.Ramakrishnan
|
CAclubindia
