Interest paid to depositers
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 August 2012
IF INTEREST PAID TO DEPOSITORS BEFORE THE COMMENCEMENT OF BUSINESS THEN WHETHER IT SHOULD BE CAPITALIZED IN THE COST OF MACHINERY OR TREATED AS P&P EXPENSES
08 August 2012
The amount can be capitalised only if the conditions of AS-10 are complied with. Otherwise it is project development cost which can not be capitalised and treated as expense. Tax benefit is not available for this expenditure.
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