Loan against Fixed Assets

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Shiv om Jindal (Querist)
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25 November 2009 Hello friends i need some clarification regarding verification of loans against fixed assets. Whether the WDV of Fixed assets should always be equal to or more than O/s amount in respect of loan. The problem is mainly posed due to charging of high depreciation as per IT rates. Or can we rely on the valuation certificates. If any other way please throw some light on this subject.

CA. Rishabh Mittal

CA. Rishabh Mittal (Expert)
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25 November 2009 WDV of fixed asset has in now way connection with O/s amount of Loan. Depreciation will be charged according to seperate rates (Preferable to take IT Rates). On the other hand, O/s amount of loan will be seen from amortization chart.

CA Devanshi Gandhi (Ajani)

CA Devanshi Gandhi (Ajani) (Expert)
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25 November 2009 agree

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