Processing fees treatment
This query is : Resolved
Shashikant
(Querist)
17 January 2015
what is treatment of processing fees paid on home loan in case Proprietorship Firm?
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
its may business premises loan taken by you and then its come under bank charges or term loan processing fee a/c
Shashikant
(Querist)
17 January 2015
sir,it is for personal use of proprietor and processing fees paid from current account of firm.
CMA Ramesh Krishnan
(Expert)
17 January 2015
Debit as Drawing of Proprietor since personal expenses
Shashikant
(Querist)
21 January 2015
can't we capitalized it?
CMA Ramesh Krishnan
(Expert)
22 January 2015
personal expenses cannot be capitalised
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