Loan Processing fees Capitalize or not
This query is : Resolved
Quick Summary
30 October 2020
Rs.2,83,562 bank loan processing fees and RS.5,49,361 Bank CGTMSE Scheme fees paid in February,2020 for loan of purchase of plan and machinery but plant and machinery put to use in July,2020.
So whether Processing fees and cgtmse fees capitalized or not?
So whether Processing fees and cgtmse fees capitalized or not?
CA R SEETHARAMAN
(Expert)
31 October 2020
Capitalize as it related to capital asset.
28 December 2020
https://cleartax.in/s/as-16-borrowing-costs
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