Cost Of Capital Asset
This query is : Resolved
31 March 2008
What is the Treatment of the processing fee paid for the granting of the loan taken for acqusition of a house to be put into ?
31 March 2008
it just not added in the capitalm cost of assets as it is paid to get the loan for purchasing the house not to purhcase the house directly
31 March 2008
then how that expense has to be accounted as
31 March 2008
As part of Interest
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Visit http://www.apnaloan.com/taxtips/home-loan-india/deductiononprocessingfee.html
31 March 2008
AS PART OF INTEREST
31 March 2008
Dr. to Interest Account
31 March 2008
processing fee here you have to take as a finanical charges and as a revenue expenditure.
31 March 2008
Yes it is to be treated as finance charges
01 April 2008
as finance charges
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