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HIRE charges of Machinery and Equipments

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(Querist)
27 June 2008 Plzzzz....Guide me.....Whether Hire charges of machinery and Equipments for the purpose of construction should be capitalized or not?
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
27 June 2008 Yes.
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PC-www.bharadwajinstitute.com

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PC-www.bharadwajinstitute.com (Expert)
28 June 2008 Whatever charges/expenses paid in construction of a CAPITAL asset must be capitalised....

IT is part of COST as per AS 10
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