Interest paid to depositers

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Querist : Anonymous (Querist)
06 August 2012 IF INTEREST PAID TO DEPOSITORS BEFORE THE COMMENCEMENT OF BUSINESS THEN WHETHER IT SHOULD BE CAPITALIZED IN THE COST OF MACHINERY OR TREATED AS P&P EXPENSES

08 August 2012 The amount can be capitalised only if the conditions of AS-10 are complied with. Otherwise it is project development cost which can not be capitalised and treated as expense. Tax benefit is not available for this expenditure.



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