hello sir
if i am buying new shop can i show shop AND product as expense
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Corporate tax realted query
Replies (3)
No, It is not revenue expenditure.
The purchase of any property being long term assets or capital expenditure.
HOW
IF RENT CAN BE SHOWN AS EXPENSE THEN WHY COMMERICAL PROPERTY CANNOT BE SHOWN AS EXPENSE ?? IF A BULDER CONSTRUCT A BUILDING FIRST HE WILL BUY A LAND THE LAND WILL BE SHOWN AS EXPENSE THEN WHY COMMERCIAL PROPERTY CAN BE SHOWN AS EXPENSE? HOW TO SHOW PRODUCT AS EXPENSE?
As per accounting parlance there are two types of expenditure revenue and capital.
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