About Education Loan
This query is : Resolved
26 December 2010
I want to Know that when we take Eduction Loan & directly give payment to Eduction Institute then Loan in include in our Liability but what Second treatment we done in our books?(Is we Debited it in our Capital A/C
CA PARAS BAFNA
(Expert)
26 December 2010
Yes. If the annual fee is being paid by you you have to debit it to your capital account.
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28 December 2010
Again I want to Know that from this effect our capital a/c is also go for negative Balance. Can it Possible
CA PARAS BAFNA
(Expert)
01 January 2011
Yes it's possible. You may have debit balance in capital account if your withdrawals exceeds the capital.
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