09 May 2014
SIR, A MANUFACTURING UNIT IS RUNNING FOR THE LAST SEVERAL YEARS.IT HAS INSTALLED A NEW PLANT AND MACHINERY IN THE SAME PREMISES. THE PLANT AND MACHINERY IS ON LOAN FROM BANK. INTEREST CHARGED BY THE BANK FROM THE DATE OF FINANCE TILL THE DATE OF PRODUCTION IS RS. 3.00 LAC SIR, WHETHER THE AMOUNT OF INTEREST WILL BE CAPITALISED OR WILL BE DEBITED TO PROFIT AND LOSS ACCOUNT SIR, PLEASE GUIDE ME
CAclubindia
