I have bought a car last year 14 Lakh. So Fixed Asset - CAR stands at 14 Lakh. I have take a loan for 7 Lakh. This FY insterest component on this is around 50K. So I can add loan interest to Car make it 14.5 Lakh.
4 Replies
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 04 April 2024
No. The interest is expense.
Its accountable in PandL account.
Its accountable in PandL account.
sabyasachi mukherjee
(27574 Points)
Replied 05 April 2024
All expenses incurred in bringing the asset to its normal condition is chargeable to the asset.
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 05 April 2024
| Originally posted by : sabyasachi mukherjee | ||
 |
All expenses incurred in bringing the asset to its normal condition is chargeable to the asset. |  |
Mr Sabyasachi Mukherjee,
Please avoid such stupidity...
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