Interest on asset
This query is : Resolved
24 March 2010
Dear Sir
An asset is purchased out of loan availed from bank, can I take depreciation as well as interest on loan in P&L.
An asset is purchased out of loan availed from bank, can I take depreciation as well as interest on loan in P&L.
24 March 2010
The query is incomplete please tell whether the asset is ready for use>>>>
24 March 2010
YES YOU CAN TAKE BOTH IF ASSET IS PUCHASED OUT OF TERM LOAN AND PUT TO USE IN THE YEAR IN WHICH INTEREST AND DEP IS REQUIRED TO BE AVAILED.
24 March 2010
please mention the asset put use or not,you can also refet AS-16
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Purchase of property from NRI
- Seeing a huge entry in AIS Purchase of time deposits (SFT-005), what it is for
- NRI get transferred fund from his own Indian account to his foreign US account without any approval
- GST APPLICABILITY TO DIAGNOSTIC
- CESS not claimed in GSTR3B either in inward supplies or outward supplies for the period Oct2025
- How to pay tds on mhada property
- ITC claim on vehicle parts and repairing
- Invoice wrongly made on another GSTIN
- GST APPLICABILITY ON DIAGNOSTIC UNIT
- Amount Received in Trust Account
- TDS on purchase of property through EOI
- Section 44AD 44AB
- ITR WITH 0 TURNOVER
- Value of Perquisite Sec.10 (10CC)
- Multiple GST under same PAN
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
