exp incurred for building

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rajesh (Querist)
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07 October 2009 i suppose to account for new co.
office for rent,
and expenses incurred for renovation of complete office , should i account for repairs & maintenance or account at building

K V Subba Rao

K V Subba Rao (Expert)
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07 October 2009 This is rather a complicated subject as you may find from following two links:

http://www.taxguru.in/income-tax-case-laws/renovation-expenses-incurred-on-leased-premises-and-allowability-of-same-as-revenue.html

http://www.itatindia.com/datafolder/flash/Flashbn11-9-09_3.htm

You may like to consider treating the expendiure as of deffered revenue nature and write off over lease period