Renovation charges

Shenba Associates (Partner) (115 Points)

02 June 2012  

Hi Friends,

The year we were shifited our place from 2nd floor to ground floor. So we incurred expenses for renovating and all other expense related to shifting. We paid sum of money to our contractor for shifting and decoration and replacement. Whether theses expenses should be capitalized or charged to profit and loss account. Its a rental property and we are doing jewellery business in that place.