Expenses capitalized
Kanhu charan dssh (Accountant) (38 Points)
18 September 2021in my queries, in first year of partnership firm can I expenses capitalized like, labour cost , consultancy fee, if yes then how do take benefit in next Year.
Kanhu charan dssh (Accountant) (38 Points)
18 September 2021
CA. Sourav Sarkar
(Chartered Accountant )
(24578 Points)
Replied 19 September 2021
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 19 September 2021
You either capitalise or take tax exemption. Capitalised expenses are tax allowable. If the government is giving incentives, then it is tax exempt.
Sravan Reddy G
(CA)
(618 Points)
Replied 19 September 2021
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 19 September 2021
@ Rajnikanth I have a doubt because I’m not into tax. Don’t you get tax savings as part of amortising them into cost of sales?
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