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.
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