income tax
This query is : Resolved
11 June 2010
Dear all
My Query is realting to school/ college admission fee . can we capitalise the admission fee (since it is one time fee) instead of considering under income.
My Query is realting to school/ college admission fee . can we capitalise the admission fee (since it is one time fee) instead of considering under income.
12 June 2010
NO, ADMISSION FEE IS REVENUE NATURE, IT CAN'T BE CAPITALIZED. IT IS NOT A FIXED ASSET, WHICH YOU WANT OT CAPITZLED. IT IS CONSIDER AS INCOME INWHICH YOU RECEIVED IT.
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