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
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