State whether the following expenses are capital or revenue in nature:

(i) Expenses on whitewhashing and painting of a building purchased to make it ready for use.

(ii) ₹ 10,000 spent on constructing platform for a new machine.

(iii) Repair expenses of ₹ 25,000 incurred for whitewashing of factory building.

(iv) Insurance premium paid as renewal premium.

(v) Purchased a new car.

(vi) GST paid on purchase of new machine.

(vii) Wages paid to install a machine.

(viii) Repairs carried out on existing car.

(ix) Office block of building repainted for ₹ 50,000.

(x) Paid telephone bill of ₹ 2,500.

[Capital Expense – (i), (ii), (v), (vi), (vii); Revenue Expense – (iii), (iv), (viii), (ix) and (x).]

Anurag Pathak Changed status to publish October 12, 2023