if I taken a loan from bank and my account are NPA, than from bank point of view interest income recognise should be reversed and weather in my account I recognise interest cost or not.
My project CWIP than weather I capitalise the interest cost or not as per AS-16
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As-16 and interest
Replies (2)
Recognising your account as NPA by the bank doesn't waive off your liability.
IMO, everything is recorded as a normal loan.
Agreed with manish ji.
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