Accounting for interest on term loan during pre construction

As per Accounting Standard 16 Issued by ICAI, Borrowing cost (i.e. Interest etc) incurred during preconstruction should be capitalized (treated as Cost of Asset) - Your option (a) is in line with the Accounting Standard.

For AS 16 - Borrowing Cost please visit the following link

https://www.webtel.in/Image/AS%2016.pdf

Basedon IRFS (Presume Indian Accoung Standard also allows same) You can capitalize and depreciate interst on loan during pre-construction stage. You cannot capitalize interst once project is completed and commercial production starts. Once commercial production starts, interst should be treated as finace expense.

Yes Mr.Bhaskar is right.

Indian Accounting Standard also allows the same.

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