Interest on loan from nbfc
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 May 2016
Dear Experts,
Please guide me on following issue:
Please note interest on Loan booked according to Repayment Schedule by our partnership firm. Our EMI Date is 15 of every month.
Interest from 16th March to 31st March entry how to account for due to Accounting year ending. What is the journal entry if required
Regards,
Jatin
Please guide me on following issue:
Please note interest on Loan booked according to Repayment Schedule by our partnership firm. Our EMI Date is 15 of every month.
Interest from 16th March to 31st March entry how to account for due to Accounting year ending. What is the journal entry if required
Regards,
Jatin
23 May 2016
Interest for March for 16 days to be deducted for same provision to be made for extent of Interest for same TDS to be deducted @10%
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