Capitalization of interest on heavy vehicle
This query is : Resolved
08 June 2024
I have taken a specific loan for constructing the body of Heavy vehicle. Can i capitalize the interest of loan, if the vehicle is constructed and put to use within 12 months?
Kindly rectify my query, it will be grateful. Gratitude in advance.
Kindly rectify my query, it will be grateful. Gratitude in advance.
09 June 2024
Yes, you can capitalise such construction period interest.
10 June 2024
what if it does not satisfies as an "Qualifying Asset"? In my question, the construction of vehicle's body has not covered the substantial period of time for intended to use. Still can I capitalize the interest?
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