16 November 2012
Overall Painting of college was made for which amount of Rs. 700000 was expended. whether such amount should get capitalised or treated as revenue exp.
16 November 2012
Painting of existing building whether for one room or for entire college and whether that amount is for Rs.7 or Rs.7 lakhs is always revenue nature.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
16 November 2012
will you please provide me section and legal explanation to give the detail in legal language to the client
20 November 2012
An expense is to be capitalised only when it increases the output or results in additional benefit. Painting expense does not result in any additional benefit and accordingly it is a revenue expenditure.
CAclubindia
