Shop construction expenses
ABHI KUMAR (735 Points)
02 September 2022
can we claim shop construction expenses in p nd l account
5 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(193950 Points)
Replied 02 September 2022
No. It will be debited to shop/ property account.
Sai Allu
(754 Points)
Replied 02 September 2022
Since its personal expenditure not relevant to business you can't claim deduction as an expense in profit and loss account. No, you cannot claim deduction of Income Tax paid, interest on income tax paid.
CA Rashmi Gandhi
(Chartered Accountant)
(86469 Points)
Replied 03 September 2022
You can't, same is capitalised
veerendar singh
(tax consultant)
(3306 Points)
Replied 03 September 2022
You can only claim depreciation on such cost.
sabyasachi mukherjee
(27746 Points)
Replied 03 September 2022
It's a capital expenditure but you can segregate it and claim it.
Recent Topics
- Query about rule 42
- ITC on Credit note updated late in GSTR3B
- TDS REMOVE DEDUCTEE FROM CHALLAN
- Query regarding MCQ OMR
- RCM Taxable Value Wrongly Shown in March 25 GSTR -
- Tax Treatment of Consideration Received Under Irre
- ITC on Car loan processing charges
- Documentation to Substantiate Foreign Travel as Bu
- Deficiency Letter
- DRC 01 along with SCN not received
Related Threads
CAclubindia
