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Vehicle Loan Intrest

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 December 2010 I am Ravichandran, Accountant in Private Concern


We have brought new cars by using vehicle loan. inthis, connection we have paying intrest (for 36 installemnts)aginst vehicle loan. is this insterest expenese can be included in vehicle cost or revenue expenses please clarrify.
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CA Manikandan.A.V

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CA Manikandan.A.V (Expert)
24 December 2010 Interest for the current financial period can be treated as expenditure. no need to capitalise such interest.
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Querist : Anonymous

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Querist : Anonymous (Querist)
24 December 2010 thank you mr. manikandan

P.Ravichandran
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