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Querist : Anonymous

Querist : Anonymous (Querist)

15 January 2014 DEAR SIR/MAM, WE (COMPANY) HAVE PURCHASED A FLAT IN MUMBAI FOR WHICH WE HAVE TAKEN A LOAN OF RS. 4 CR. NOW WE ARE PAYING INTEREST ON THE SAME. KINDLY LET ME KNOW HOW SHOULD I TREAT THE ABOVE EXP. ANY AMOUNT DO I NEED TO CAPITALISE OR FULL AMOUNT SHOULD BE EXPENSED OUT.

PANKAJ KUMAR

PANKAJ KUMAR (Expert)
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15 January 2014 if you are using this flat then the interest will be treated as revenue exp. otherwise interest will be capitalise

Querist : Anonymous

Querist : Anonymous (Querist)

16 January 2014 But my building ready made... not in costruction

PANKAJ KUMAR

PANKAJ KUMAR (Expert)
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16 January 2014 then in that case interest should be treated as revenue expenditure

Querist : Anonymous

Querist : Anonymous (Querist)

16 January 2014 Thanks Punkaj..God bless You my boy