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Loan Processing Charges to be shown as Project Cost...

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Dear Friends,

I have shown Loan Processing Charges as one component of Project Cost. I want to know that as per which section of Income tax it can be shown as part of Project Cost ? ? ?

 :)

Replies (6)

bank charges / finance charges

Its Bank Charges

if the loan is from bank then bank charges, if from .........SMC, or NBFC then finance charges,

Originally posted by : U S Sharma

if the loan is from bank then bank charges, if from .........SMC, or NBFC then finance charges,

Agreed

it should be shown as bank charges

I have shown it as Project Cost & Capitalize it as per this supportive Document attached herewith.. 

As this is Wind Power Project 


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