Office Renovation expenses
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 May 2011
Dear Experts,
A limited Co.(unlisted)renovates and furnisehes its godown , office and shop. It shows several expenses such as purchase of cement, bricks, iron rods, etc.. in cash. The clarification The co. provides is that they are non credit item which are unrelated to it business directly. On the other hand the Co. says how can they believe such shop and pay the paymant by cheque in advance( delivery on clearance of cheque).
Is the expense allowed and can be capitalised ?
Thnx in adv
A limited Co.(unlisted)renovates and furnisehes its godown , office and shop. It shows several expenses such as purchase of cement, bricks, iron rods, etc.. in cash. The clarification The co. provides is that they are non credit item which are unrelated to it business directly. On the other hand the Co. says how can they believe such shop and pay the paymant by cheque in advance( delivery on clearance of cheque).
Is the expense allowed and can be capitalised ?
Thnx in adv
11 May 2011
ITS EXPENSES CAN BE ADDED ON CAPITALISED OR PRELIMINARY EXPENSES
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 May 2011
Thnx for ur valuable opinion but one more thing U would like to add to my query is: If the Co has paid in cash for more than Rs. 20000/- thru single payment, is it allowed even if we capitalise the expense?
11 May 2011
its depend on which product purchases. and its treated to preliminery exp. devide 5 yrs thr exp.
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