Live Course on Drafting of Appeal and Reply of Penalty Notice by CA Sachin Sinha. Register Now!!

Easy Office

LCI Learning

Repair of gyser capitalized

Roshni jaiswal (student) (51 Points)

28 January 2021

Is repair of gyser capitalized or not. Plz suggest.

Reply
Follow
Share

3 Replies

Deepak Kumar (791 Points)
Replied 28 January 2021

Is your choice you are capitalized then you have not claim ITC only claim Depreciation

Mohd Azhar Chiragh (2 Points)
Replied 29 January 2021

Repairs are expenses incurred to maintain the working condition of the asset or to restore to its previous working condition, thereby adding no value over and above the asset's original utility.
hence, repairs should be expensed in Profit and Loss A/c.

prasad Nilugal (3914 Points)
Replied 29 January 2021

Revenue Expenditure

Join CCI Pro

Recent Topics

More recent discussions | Post

Related Threads

Popular Discussion

Start a New Discussion

Trending Online Classes

5th Live Batch for Basic and Advanced MS Excel

CA Vishal Zawar

Enroll Now

20 May 2024
Live Course on GST on Online Gaming(With Recording)

CA Vishal G Poddar

Enroll Now

11 May 2024
Live Course on Drafting of appeal and reply of penalty notice, Rectification and stay of demand (with recording)

CA Sachin Sinha

Enroll Now

25 May 2024

view all classess

CCI Pro

Subscribe to the latest topics :

Search Forum:

Forum Home

Popular Threads

Recent Posts

Unreplied Threads

Settings