one of our client paid Rs.25 Lac to water supply board which is one time expenditure and it is non-refundable.
should i treat as preliminary expenditure and write-off over the period of Ten years?? or is there is any other way of accounting
CA Devika K ACA., (Chartered Accountant) (32 Points)
04 August 2014one of our client paid Rs.25 Lac to water supply board which is one time expenditure and it is non-refundable.
should i treat as preliminary expenditure and write-off over the period of Ten years?? or is there is any other way of accounting
PRADEEP S
(Finance Manager(B.Com. M.Com. M.Phil. LL)
(216 Points)
Replied 04 August 2014
Hi,
The facts are incomplete to reply, can you please elaborate nature of expenditure is incurred?