Processing Charges
This query is : Resolved
10 August 2010
My Query:-
Can Processing charges on Loan taken be deffered over the period of loan? Does any Accounting Standard or Accounting principal/policy support the view?
Thanks & Regards
Piyush
Can Processing charges on Loan taken be deffered over the period of loan? Does any Accounting Standard or Accounting principal/policy support the view?
Thanks & Regards
Piyush
10 August 2010
Processing charges are written off in the year in which they are incurred. If they are capitalised as per AS - 16 borrowing cost then deprecaition on the same is allowable.
10 August 2010
Dear Aditya,
Deferring and Capitalizing are two seperate issues..
Deferring and Capitalizing are two seperate issues..
10 August 2010
I want to know if this can be deferred??
10 August 2010
No Processing charges on loan can not be deferred and should be written off in the year in which they are incurred.
11 August 2010
It cannot be deferred as is mentioned in the reply above also.
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
- Multiple payment of self assessment tax for A Y 2025-2026
- CAPITAL GAIN REDEVELOPED FLAT
- REGARDING ITR FILING QUESTION
- Requirement under FEMA &RBI
- CLOSING STOCK QUERY
- Rent claimed on building given on permissive possession basis
- PF wage ceiling
- Missed TDS
- ITC BENEFIT ON BROKRAGE PAID
- Taxation on Old jewellery sold
- Correction in TDS return New Traces Portal
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
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
