Personal loan not paid back

Dimpy (Accounts) (94 Points)

08 September 2023

if any personal loan is unpaid then will it be treated as income or capitalised?

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7 Replies

Eswar Reddy S (CFO- at NHTF) (58213 Points)
Replied 08 September 2023

It will be under liability till the external confirmation received.

You may need to treat it as income

2 Like

sabyasachi mukherjee (26132 Points)
Replied 08 September 2023

In personal books.

Eswar Reddy S (CFO- at NHTF) (58213 Points)
Replied 08 September 2023

If no confirmation is received then it remains as loan under liabilities

2 Like

Dimpy (Accounts) (94 Points)
Replied 08 September 2023

After receiving confirmation can it be treated as income? The amount is approx 50lakhs

Eswar Reddy S (CFO- at NHTF) (58213 Points)
Replied 08 September 2023

Yes. It should be income only

2 Like

RAJA P M ("Do the Right Thing...!!!") (127227 Points)
Replied 08 September 2023

No, It's not an income.
It's will capitalize...

sabyasachi mukherjee (26132 Points)
Replied 13 September 2023

If it is not entered or registered in books then it is ok

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