Bank Guarantee Charges
This query is : Resolved
RAKHI CHAUDHARY
(Querist)
22 July 2010
Guarantee deposited by co. to bank -Rs.7.5lacs
Bank charged Rs.45000 upto 31.03.2011(from 2008-09 to 2010-11),whether these bank charges expensed this yr or deffered
As certificate received today,what about 2008-09 bank charges which was not booked last year
Bank charged Rs.45000 upto 31.03.2011(from 2008-09 to 2010-11),whether these bank charges expensed this yr or deffered
As certificate received today,what about 2008-09 bank charges which was not booked last year
Venkat Rao Marella
(Expert)
23 July 2010
No doubt these are bank charges which should be charged off. The charges cannot in any case be treated as deferred. Since the BG is exercised in the current year, the charges pertain only to the current FY.
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