13 November 2013
I am buying a new office space.
I want to know whether
maintenance deposit
commission to broker
will be accounted as expense or will be treated as capital receipt s
please guide
13 November 2013
Maintenance deposit in advance is to be shown as an asset but the amount of maintenance charges being adjusted from the deposit can be treated as revenue expenditure and can be claimed against the business income. Commission paid for buying the office is a capital expenditure and can be added to the cost of the office.
CAclubindia
