Interior work expenditure

This query is : Resolved

Joseph (Querist)
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15 October 2008 Our company spent more than 8 Lakhs for interior work.

My question is : 1. Can we capitalise the above expenditure ?

if yes,

1.What is the rate of Depreciation?
2.Which is the accounting head the above be capitalised?

Regards,

Joseph

Guest

Guest (Expert)

15 October 2008 If company has spent Rs. in interior work than it can be captalised because the interior work done on some fixed assets like building or furniture etc. so if the interior decoration has been part of that assets so it will be captalised

so it also will be form part of assets like on furniture than it will be included in furniture and the rate of depreciation will be same as on furniture