Capitalisation of administrative charges paid after 7 years
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 December 2014
can administrative charges paid on purchase of land from land developer after 8 years from purchase of land be capitalised? or expense out?
17 December 2014
Yes
Under companies act it will be capitalized as per AS-10 Accounting for fixed asset.
As per Income Tax also it will treated as Improvement as per section 55 of income tax act, 1961
Under companies act it will be capitalized as per AS-10 Accounting for fixed asset.
As per Income Tax also it will treated as Improvement as per section 55 of income tax act, 1961
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Querist : Anonymous
Querist :
Anonymous
(Querist)
19 December 2014
evenif it is incurred after 8 years of land purchased? if yes then why?
19 December 2014
Date of payment doesn't at all, what is important type of expenditure
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