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Construction value in books


Sundaraiah
(@sundaraiah)
Trusted Member
Joined: 3 years ago
Posts: 66
Topic starter  

Sir,

I.t. assess construction for commerical building new strated in f.y.2019-2020

Construction expenses detailes mentioned below.

1.some construction expenses Rs.5 lacs payment cash mode.( Above 10 thousand limit)

2. Some construction expenses Rs.12 lacs payment bank account payee mode.

Total cash and bank mode construction expenses Rs.17 lacs in f.y.2019-2020.

Question:

Construction expenses value Rs.12 lacs or 17 lacs amount show in balance sheet in f.y.2019-2020 and cash mode expenses  depreciation claimed eligible.


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CA Riya
(@riya)
Member Moderator
Joined: 3 years ago
Posts: 45
 

Sir,  cash expenses above Rs 10,000 per day will be disallowed. 


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