https://www.taxtmi.com/forum/issue?id=2438 If the painting is used in the office or was purchased for building renovation, treat the cost as capital expenditure and debit it to the Building account for both Companies Act and Income Tax Act purposes, classifying it as part of the fixed assets of the building. en-us Tue, 07 Dec 2010 15:23:16 +0530 Thu, 23 Jan 2025 15:58:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=2438 If the painting is used in the office or was purchased for building renovation, treat the cost as capital expenditure and debit it to the Building account for both Companies Act and Income Tax Act purposes, classifying it as part of the fixed assets of the building. Discussion-Forum Indian Laws Tue, 07 Dec 2010 15:23:16 +0530 https://www.taxtmi.com/forum/issue?id=2438