Stamp duty Paid for Mortgage & Hypothication :Ledger Head??
This query is : Resolved
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
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
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.
If the loan is taken for the purpose of acquiring the P&M, then it will require capitalisation.
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