06 August 2014
Restaurant under Trust
1. Installation charges paid towards installation of a fixed assets on a rented premises will also be capitalised or not.
-Control Panel - Rs. 106000/-
-Installation Charges* - Rs 60,000/-
*Installation Charges include all boards, plugs, wire etc. total wiring of restaurant was changed and connected with control panel.
-CCTV - Rs. 50000/-
- wiring etc. - Rs. 29000/-
06 August 2014
You can capitalized the same if it falls on the fixed assets category. Rented or self owned building/land will not have effect on nature of assets.