Cost Of Capital Asset
This query is : Resolved
Nagaraj SV
(Querist)
31 March 2008
What is the Treatment of the processing fee paid for the granting of the loan taken for acqusition of a house to be put into ?
Sanjeev Kumar Sharma
(Expert)
31 March 2008
it just not added in the capitalm cost of assets as it is paid to get the loan for purchasing the house not to purhcase the house directly
Nagaraj SV
(Querist)
31 March 2008
then how that expense has to be accounted as
K V Subba Rao
(Expert)
31 March 2008
As part of Interest
Visit https://www.apnaloan.com/taxtips/home-loan-india/deductiononprocessingfee.html
Visit https://www.apnaloan.com/taxtips/home-loan-india/deductiononprocessingfee.html
31 March 2008
AS PART OF INTEREST
CA. Kirti S. Ganatra
(Expert)
31 March 2008
Dr. to Interest Account
MANAS ROUT
(Expert)
31 March 2008
processing fee here you have to take as a finanical charges and as a revenue expenditure.
31 March 2008
Yes it is to be treated as finance charges
Sanjeev Kumar Sharma
(Expert)
01 April 2008
as finance charges
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