Vehicle Loan Intrest
This query is : Resolved
Querist : Anonymous
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.
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.
24 December 2010
Interest for the current financial period can be treated as expenditure. no need to capitalise such interest.
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 December 2010
thank you mr. manikandan
P.Ravichandran
P.Ravichandran
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