I'm working in a company.
In my company accounts they had accounted land development charges for Rs.600000. Is there is any problem in future.
CA PRASHANT KR MISHRA
(AS A MEMBER IN CA FIRM)
(249 Points)
Replied 27 October 2011
CA Sachin Rastogi
(Audit/IFRS Manager)
(338 Points)
Replied 30 October 2011
It will be more interesting to think whether these land development charges needs to be capitalised to the land account or needs to be expensed off in the income statement.
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