Hi everyone i have one doubt regarding income tax
suppose when an assessee does interior decoration in his office which is related to his business whether it has to be added to furniture and should be shown as fixed assets or it has to be debited to profit and loss acccount as expense and when fixed asset schedule is prepared whether it has to be shown as addition in that block . please clarify.........
fixed assets
| Originally posted by :Rocky | ||
| " | interior decoration should be shown as fixed assets because it increases value as well as life of Asset |
" |
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