our entity having turnover of 3000 cr .... incurred renovation expense on "product display area" for an amount of Rs. 1.5cr (includes civil work, furniture and others)
our director is saying... seeing materiality of amount .... the renovation should not be capitalise.... kindly share your view considering Income Tax and Ind As
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capitalisation of renovation expenses (owned property)
Replies (4)
will it be giving beneficial more than a year or so?
yes.....
Then capitalize it over period of benefits...
sir, it would be a great help if u please quote any relevant provisions
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