Capex or revenue expenditure
This query is : Resolved
15 June 2013
are the installments paid for hire purchase capex or a revenue expenditure ? accordingly will i be allowed depreciation u/s 32 on the asset ? also is the interest element included in the installments captalised ?
Guest
Guest
(Expert)
15 June 2013
In case of hire :
Payment on account of cost of the asset shall be entitled for depreciation in the hands of assessee.
For the interest it is allowed as revenue expenditure.
Payment on account of cost of the asset shall be entitled for depreciation in the hands of assessee.
For the interest it is allowed as revenue expenditure.
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