Cost Of Capital Asset

This query is : Resolved

Nagaraj SV (Querist)
Follow

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

Sanjeev Kumar Sharma (Expert)
Follow

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

Nagaraj SV (Querist)
Follow

31 March 2008 then how that expense has to be accounted as

K V Subba Rao

K V Subba Rao (Expert)
Follow

31 March 2008 As part of Interest

Visit https://www.apnaloan.com/taxtips/home-loan-india/deductiononprocessingfee.html

CA Saurabh Maheshwari

CA Saurabh Maheshwari (Expert)
Follow

31 March 2008 AS PART OF INTEREST

CA. Kirti S. Ganatra

CA. Kirti S. Ganatra (Expert)
Follow

31 March 2008 Dr. to Interest Account

MANAS ROUT

MANAS ROUT (Expert)
Follow

31 March 2008 processing fee here you have to take as a finanical charges and as a revenue expenditure.

CA Shailesh +91 9393926464

CA Shailesh +91 9393926464 (Expert)
Follow

31 March 2008 Yes it is to be treated as finance charges

Sanjeev Kumar Sharma

Sanjeev Kumar Sharma (Expert)
Follow

01 April 2008 as finance charges

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

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

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

Jayaram Bramhajosyula

Jagannathan Seshadri

sandhya.v

Ashish Nerlekar

Kamaljeet Kaur

Subscribe Now

Cost Of Capital Asset

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA