Stamp duty Paid for Mortgage & Hypothication :Ledger Head??

This query is : Resolved

sushil (Querist)
Follow

27 February 2011 Dear Experts,

ours is a pvt ltd company, we have paid stamp duty in the form of franking amounted to Rs.1,10,000/- towards Mortgage & Hypothication of plant & machinery in favour of bank.

What will be the ledger head

Thrissurkkaran Ishtan

Thrissurkkaran Ishtan (Expert)
Follow

01 March 2011 Open a head called "stamp duty for mortgage" under Finance cost.

If the loan is taken for the purpose of acquiring the P&M, then it will require capitalisation.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok