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Pre and post incorporation

Accountancy

Is Interest on loan taken in post incorporation period to pay the purchase consideration chargeable to pre incorporation period?

Nagesh S Hegde

CA Inter

★ 11K+

04-Jul-21 19:22

466

Answers (6)

CA Suraj Lakhotia

Admin

04-Jul-21 19:31

CA Suraj Lakhotia Admin

If loan taken for any reason in pre inc period ,it should be apportioned in time ratio right?

Thread Starter

Nagesh S Hegde

CA Inter

★ 11K+

04-Jul-21 19:34

Yes

CA Suraj Lakhotia

Admin

04-Jul-21 19:35

The factor Purchase consideration in loan has no impact on apportion of interest right sir?

Thread Starter

Nagesh S Hegde

CA Inter

★ 11K+

04-Jul-21 19:38

Right.

CA Suraj Lakhotia

Admin

04-Jul-21 19:59

CA Suraj Lakhotia Admin

Right.

Thank you sirr

Thread Starter

Nagesh S Hegde

CA Inter

★ 11K+

04-Jul-21 20:04