Interest on term loan taken to fund purchase of office space
This query is : Resolved
06 June 2012
My client has taken term loan for purchase of office space.
My querry is whether the interest paid on such term loan has to be capitalized or to be debited to PnL
My querry is whether the interest paid on such term loan has to be capitalized or to be debited to PnL
06 June 2012
If it is for a ready office space or for renovating the place, it will not fulfil the qualifying asset critia under AS 16 and thus will be expensed when incurred.
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