Capitalisation of Leasehold Land
This query is : Resolved
27 March 2008
I want to know the accounting treatment for the below mentioned situation of a leasehold land.
Lease Period : 99 Years
Plot Deposit : 5.5 Lac (Refundable)
Development Charges : 14.5 Lac (Non Refundable)
Water Plant Cost : 3 Lacs ( Non Refundable)
How much should i capitalize? How much to be shown as deposit?
Give your suggestions
Lease Period : 99 Years
Plot Deposit : 5.5 Lac (Refundable)
Development Charges : 14.5 Lac (Non Refundable)
Water Plant Cost : 3 Lacs ( Non Refundable)
How much should i capitalize? How much to be shown as deposit?
Give your suggestions
27 March 2008
Deposit amount can`t be capitalised since it is refundable.Remaining both items should be capitalised.
28 March 2008
CAPITALISE 17.5 LACS(14.5+3) BEING NON REFUNDABLE
28 March 2008
Thanks for your comments to support my opinion
01 April 2008
Contact to Jay Gulani for Live chat. dial 09424515253
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- GST on export of services and Input Credit
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- Should I report my US salary for January, February, March in Schedule FA?
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
CAclubindia
