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Bank processiong charges

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Querist : Anonymous

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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?
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CA.Mini

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CA.Mini (Expert)
08 July 2010 Processing charges made by bank is debited to p&l account .usually it is treated same like bank charges.
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
08 July 2010 AGREE WITH EXPERT
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CA. BIJENDER KR. BANSAL

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CA. BIJENDER KR. BANSAL (Expert)
09 July 2010 AGREED WITH EXPERTS.
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MAHENDRA KUMAR BAGRECHA

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MAHENDRA KUMAR BAGRECHA (Expert)
10 July 2010 Ya, Agree with experts
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MAHENDRA KUMAR BAGRECHA

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MAHENDRA KUMAR BAGRECHA (Expert)
10 July 2010 Ya, Agree with experts
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