Loan fees amortisation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 July 2010
Dear all,
whether the processing fees on renewal of credit policy/ buyer credit can be amortised?
if company has a policy of amortisation of processing fees of long term loan and short term loan then has to amortised the above.
if, no then is there any violation of AS, company law or income tax provision.
Kindly reference to other companies policy or case law in above regards.
whether the processing fees on renewal of credit policy/ buyer credit can be amortised?
if company has a policy of amortisation of processing fees of long term loan and short term loan then has to amortised the above.
if, no then is there any violation of AS, company law or income tax provision.
Kindly reference to other companies policy or case law in above regards.
Guest
Guest
(Expert)
24 August 2010
as per my view the renewal fees is charged annually by bank and hence it should be charged to p&l account for the year it pertains.
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
- Tax on Amount transferred in HUF Account
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Nursery business
- GST input credit on commercial property
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Working on Gold wastage during Melting of old gold jewellery
- TDS on Dashcam rent and allied services
- Import Order Cancelled.
- Section 269ST applicability for capital introduced by partner to his partnership firm
- TDS- 2026-27 Q1 Correction
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
