Borrowing cost

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 March 2014 Pls can anybody tell me if loan taken for the purchase of building and intt. on that loan can be treated as borrowing cost and other cost to take that loan is to be included in loan or borrowing cost or taken to profit & loss a/c as a indirect expense.

WHAT are the treatment of borrowing cost in regard to INCOME TAX.

harish

harish (Expert)
Follow

21 March 2014 Borrowing cost to be amortised over period of 3-5 years as per Income Tax provision. Refer AS 16 'Borrowing Cost' to get more clarity in this regard.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

SARAVANAN PALANISAMY

Prashant Kotecha

Subbiah S

Aishwarya N

CA Bijo scaria

Subscribe Now

Borrowing cost

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Article Assistant

GST CONSULTANT

Accountant

CA Final

GST CONSULTANCY