Shop construction expenses
ABHI KUMAR (710 Points)
02 September 2022
can we claim shop construction expenses in p nd l account
5 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177824 Points)
Replied 02 September 2022
No. It will be debited to shop/ property account.
Sai Allu
(754 Points)
Replied 02 September 2022
Since its personal expenditure not relevant to business you can't claim deduction as an expense in profit and loss account. No, you cannot claim deduction of Income Tax paid, interest on income tax paid.
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 03 September 2022
You can't, same is capitalised
veerendar singh
(tax consultant)
(3301 Points)
Replied 03 September 2022
You can only claim depreciation on such cost.
sabyasachi mukherjee
(27574 Points)
Replied 03 September 2022
It's a capital expenditure but you can segregate it and claim it.
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