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Interior designs comes under

Venu Gowda (55 Points)

30 July 2021  
interior design expenses comeds under which head?? in tally

 10 Replies

CMA Poornima Madhava (CMA) (12987 Points)
Replied 30 July 2021

In case of initial expenditure, you may capitalize the same to the cost of the building else have an account as it is i.e interior design expenses under Indirect expenses.

prasad Nilugal (3864 Points)
Replied 30 July 2021

Are you sole proprietor ?.
Interior Design for Home or office ?.
Is it Business expense or personal ?.

Venu Gowda (55 Points)
Replied 30 July 2021

LLP...... expenses paid 100,000

prasad Nilugal (3864 Points)
Replied 30 July 2021

Is it for LLP Business purpose ?.

Venu Gowda (55 Points)
Replied 30 July 2021

Yes sir new llp

prasad Nilugal (3864 Points)
Replied 30 July 2021

Then you can show under Indirect Expense , Profit and Loss Account .

prasad Nilugal (3864 Points)
Replied 30 July 2021

But  you said Its new  LLP , expense may also be capitalize with cost  of Building . just  confirm with others also .

Nidhi (Chief Accountant) (2060 Points)
Replied 31 July 2021

It can be capitalised or expense out depends upon a materiality of amount.
if it's not material than u can charge to P&L

Sourav (Student) (23887 Points)
Replied 31 July 2021

It depends either it should be capitalised or charged to P/L account

jack john (2 Points)
Replied 02 August 2021

You can book it as fixed assets - Under Leasehold property improvement If rented office or you can take into furniture and fixtures account head.   

 

 


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