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        Case ID :
        Income Tax

        Whether bill discounting charges and other similar charges would fall under the definition of borrowing cost.

        1 September, 2017

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        Manual - ICDS IX : Borrowing Costs

        The definition of borrowing cost is an inclusive definition. Bill discounting charges and other similar charges are covered as borrowing cost. Discounting charges which is not for borrowing of funds may not be included under this definition

         

        Borrowing cost: bill discounting and similar charges treated as borrowing cost, except when not tied to borrowed funds. The definition of borrowing cost is inclusive and generally covers bill discounting charges and similar charges as borrowing cost for income computation and disclosure; however, discounting charges that do not arise from borrowing funds are excluded from that definition.
                        Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                          Provisions expressly mentioned in the judgment/order text.

                              Borrowing cost: bill discounting and similar charges treated as borrowing cost, except when not tied to borrowed funds.

                              The definition of borrowing cost is inclusive and generally covers bill discounting charges and similar charges as borrowing cost for income computation and disclosure; however, discounting charges that do not arise from borrowing funds are excluded from that definition.


                              Note: It is a system-generated summary and is for quick reference only.
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