Capitalization of ground rent and conversion charges
This query is : Resolved
04 March 2020
whether ground rent and conversion charges of building required to be capitalized?
05 March 2020
Conversion charges from leasehold to freehold are treated as improvement cost and thus should be capitalised but ground rent paid is to be treated revenue item.
05 March 2020
what is ground rent exactly?
05 March 2020
as far as I know It is simply rent, mainly for the vacant plots.. like rent from parking lots or from oil bunks etc.
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