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
- Opting our of sec 44AD
- Form 121 & TDS deduction
- GST Treatment of Insurance Commission for Existing GST Holder
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- Invoice V/S Goods receipt Note Date
- Regarding appeal to GSTAT
- Multiple trade mark
- LC charges in relation to Asset purchased should be Capitalised ?
- Transporter Declaration form
- Filing of MSME 1 form by companies
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
