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AS 16

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(Querist)
30 March 2009 Can a builder capitalise the interest cost of term loan availed for the purpose of building flats (for sale) as per AS 16. Since flats are the current assets of the builder can they be classified as qualifying asset ?

Ankur Bansal
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Jitender

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Jitender (Expert)
30 March 2009 if it takes substatial period to built then it can be capitalized.
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CA Devanshi Gandhi (Ajani)

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CA Devanshi Gandhi (Ajani) (Expert)
30 March 2009 it can be capitalized
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Manmohan ACA, CS

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Manmohan ACA, CS (Expert)
31 March 2009 agree with experts, if it takes substatial period to built

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