We are a builder and partnership firm. We have purchased some materials(angles,channels) for doing the frame work for an advertisement hoarding. The hoarding is to be used by our firm only. To which head we shud post these expenses - Is this capital or repair & maintenace or any others?
It will be repair maintenance. Since economic benefits will not arise from it. I am assuminng hoarding is not related to any project / site work.
Since you are the real estate business, the expenses comes under the head of Advertisement expenses.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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