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Cost Of Capital Asset

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(Querist)
31 March 2008 What is the Treatment of the processing fee paid for the granting of the loan taken for acqusition of a house to be put into ?
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Sanjeev Kumar Sharma

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Sanjeev Kumar Sharma (Expert)
31 March 2008 it just not added in the capitalm cost of assets as it is paid to get the loan for purchasing the house not to purhcase the house directly
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Nagaraj SV

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Nagaraj SV (Querist)
31 March 2008 then how that expense has to be accounted as
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K V Subba Rao

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K V Subba Rao (Expert)
31 March 2008 As part of Interest

Visit http://www.apnaloan.com/taxtips/home-loan-india/deductiononprocessingfee.html
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CA Saurabh Maheshwari

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CA Saurabh Maheshwari (Expert)
31 March 2008 AS PART OF INTEREST
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CA. Kirti S. Ganatra

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CA. Kirti S. Ganatra (Expert)
31 March 2008 Dr. to Interest Account
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MANAS ROUT

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MANAS ROUT (Expert)
31 March 2008 processing fee here you have to take as a finanical charges and as a revenue expenditure.
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CA Shailesh +91 9393926464

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CA Shailesh +91 9393926464 (Expert)
31 March 2008 Yes it is to be treated as finance charges
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Sanjeev Kumar Sharma

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Sanjeev Kumar Sharma (Expert)
01 April 2008 as finance charges

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