Interest on bank loan
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 May 2014
I want to ask if interest on any loan is calculated at what balance the interest should be deducted opening balance or closing balance ,as in month repayment is made of some amount? please help
26 May 2014
int on loan is calculated closing bal only........
27 May 2014
it is calculated on daily closing balance..for eg if the repayment is made lets say on 15th of the month. Then till 14th the interest will be calculated on the opening balance and thereafter on the reduced balance (opening balance less repayment)
27 May 2014
it is depend on agreement with the lender.
normally it is calculate on daily balance.
normally it is calculate on daily balance.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Regarding appeal to GSTAT
- Regarding TDS Applicability For Director Remuneration
- LC charges in relation to Asset purchased should be Capitalised ?
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- Value of property in capital gain
- Multiple trade mark
- Transporter Declaration form
- Copyright software
- TDS APPLICABILITY......
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
