IND AS-116 - Advocate Fees & other registration charges
This query is : Resolved
08 September 2021
Dear Expert,
We have taken Land for lease upto 5 year. We have entered agreement and the same need to registered.
We have paid Advocate Fees Rs 5000 and Registration charges 38000. As per IND AS-116, these costs should be included in the asset to find ROU.? If yes, all the expenses covered under " Lease A/C only or we account these expense in difference GL ( Legal Service & Registration Fees A/C ).?
We have taken Land for lease upto 5 year. We have entered agreement and the same need to registered.
We have paid Advocate Fees Rs 5000 and Registration charges 38000. As per IND AS-116, these costs should be included in the asset to find ROU.? If yes, all the expenses covered under " Lease A/C only or we account these expense in difference GL ( Legal Service & Registration Fees A/C ).?
08 September 2021
Being one time expense, account it in different GL, as said under "Registration charges & legal fees"
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