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What is account head for constuction of 2 nd floor on firm

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Querist : Anonymous

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Querist : Anonymous (Querist)
09 June 2014 when 2 nd floor is constructed on the same premises of the firm name , what will be proper account name , to capitalized the all expenses for creation of the 2 nd floor on warehouse premises ?

is it right ?
L & b :
warehouse
Purchased cost xxxx
Cost of improvement for 2 nd floor .(currently ) yyyyy


pl guide me on the basis of accounts and income tax point of view?

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CA UMESH DULAL

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CA UMESH DULAL (Expert)
09 June 2014 My suggestion is to take 2nd floor as separate asset and capitalized the same.

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