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Mortgage expense

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Querist : Anonymous

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Querist : Anonymous (Querist)
06 July 2012 One of my client has mortgaged his property located in Gujarat Industrial Development Corporation and GIDC has charged 1% as administrative charges. Under which head the above expense should be shown?
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CS, Deepak Pratap Singh

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CS, Deepak Pratap Singh (Expert)
06 July 2012 Dear Friend,the amount charged by the GIDC on mortgaged property of your client can be booked in Rate, rent and duties account. Thanks
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Querist : Anonymous

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Querist : Anonymous (Querist)
06 July 2012 Thank you Sir
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