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Processing fees treatment

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(Querist)
17 January 2015 what is treatment of processing fees paid on home loan in case Proprietorship Firm?
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Rupesh Jain

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Rupesh Jain (Expert)
17 January 2015 for home loan not use in prop. firm expenses.
its may business premises loan taken by you and then its come under bank charges or term loan processing fee a/c
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Shashikant

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Shashikant (Querist)
17 January 2015 sir,it is for personal use of proprietor and processing fees paid from current account of firm.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
17 January 2015 Debit as Drawing of Proprietor since personal expenses
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Shashikant

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Shashikant (Querist)
21 January 2015 can't we capitalized it?
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
22 January 2015 personal expenses cannot be capitalised
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