Home loan
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 October 2011
how to show home loan in balance sheet. house is self occupied.
Last year
Value of the House is Rs. 8 Lakhs
Home loan against it Rs. 4.5 Lakhs
This year
Value of the House is still (No depreciation bcoz self occupied) Rs. 8 Lakhs
Home loan against it Rs. 3.5 Lakhs
Now my question is that how can tally the balance sheet.
Last year
Value of the House is Rs. 8 Lakhs
Home loan against it Rs. 4.5 Lakhs
This year
Value of the House is still (No depreciation bcoz self occupied) Rs. 8 Lakhs
Home loan against it Rs. 3.5 Lakhs
Now my question is that how can tally the balance sheet.
CA Satish Badve
(Expert)
13 October 2011
On assets side House Rs.8/- lac's, on liability side capital A/c(own funds)Rs.3.5/-lac's, Home loan Rs.4.5/-lac's.Next year asset side house Rs.8/-lac's, on liability side capital a/c Rs.4.5/-lac's , Home loan Rs.3.5/-lac's.
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