Nikhil (CA. CS.) (62 Points)
04 October 2012Dear all,
in case of a new project, can the bank charges and lc charges incurred to acquire fixed assets be capitalised? As per the accounting standard, I think we can..
However, wanted to know if there is something related to this in the revised schedule VI.
thanks in advance,
Nikhil
karla turner
(Accountant)
(21 Points)
Replied 20 November 2012
Just so you know, bank overdraft fees are really irritating and seem unjust. Particularly considering how much they charge for just one penny over. In fact, it is less expensive to get a payday advance loan and put cash in the bank before the overdraft than it is just to let it happen most of the time. It is surprising the government hasn’t produced more regulation governing them. Find out more at: Payday Advance Loan. I think we should act against this case very soon.
CAclubindia
