Master TDS & TCS Provisions with Critical Issues. Register Now!

please urgent

mohammed asharaf (accountant) (71 Points)

03 March 2010

please help me to enter the expenses incurred on renovation.

Reply
Follow
Share

5 Replies

ejaz naiyer (C.A. FINAL) (293 Points)
Replied 03 March 2010

Expenses on renovation is revenue in nature. so transfer it to P& L Account.

Upgrade to CAclubindia Pro. Subscribe Now!

SAHIL (Chartered Accountant/ CFP / B.com(AF)/ NCFM) (760 Points)
Replied 03 March 2010

BEFORE ENTERING IT,SEE FIRST WHETHER IT HAS INCREASED THE LONG TERM CAPACITY OF THE ASSET,IF ITS SO,THEN IT'LL BE CAPITALISED, OTHERWISE REVENUE..............

mohammed asharaf (accountant) (71 Points)
Replied 03 March 2010

thanks

1 Like

Poornima (Search on.... for knowledge) (129 Points)
Replied 04 March 2010

Originally posted by : SAHIL
	BEFORE ENTERING IT,SEE FIRST WHETHER IT HAS INCREASED THE LONG TERM CAPACITY OF THE ASSET,IF ITS SO,THEN IT'LL BE CAPITALISED, OTHERWISE REVENUE..............