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Loan processing fee

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(Querist)
21 November 2011 Is loan processing fee charged by bank for OD facility is a revenue expenditure or capital expenditure,
If Revenue expenditure then can the entire amount can be charged to P/L irrespective of period of OD facility
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
21 November 2011 Yes, it can be charged to P&L A/c as a revenue expenditure irrespective of the tenure of the facility.
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CA Ayush Agarwal

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CA Ayush Agarwal (Expert)
21 November 2011 Yes, Its a Revenue Expense.

Since OD Facility Itself a Facility For Revenue Spending.
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