Tax treatment in case of brick manufacturing industry.
This query is : Resolved
22 August 2011
In case of acquiring of land for the purpose of manufacturing of bricks, Basic raw material of bricks are the soil of the land than how we valued the raw material for business.whether land should be treated as revenue or capital expenses.
22 August 2011
Purchase of Land is fixed asset not revenue expenses
22 August 2011
YOUR RAW MATERIAL COST WILL BE ZERO. LAND PURCHASED BY U WILL BE FIXED ASSETS.
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