bank processing charges-2
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 July 2010
Hi
Respected Members
Can any one tell me if suppose we goes for loan and some processing charges are made by bank then where will such charges should be shown in financial statments, whether in profit and loss account or balance sheet?
and in which head?
Respected Members
Can any one tell me if suppose we goes for loan and some processing charges are made by bank then where will such charges should be shown in financial statments, whether in profit and loss account or balance sheet?
and in which head?
08 July 2010
should be shown as bank charges under indirect expenses in profit & loss account.
09 July 2010
Agreed with Experts . Bank Charges will be shown under sub group Finance Expenses group Indirect Exp.
09 July 2010
yeah agreed with the experts. Moreover these charges can not be capitalized. In the Income Tax also they will be considered as revenue expenditure.
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