Interest paid on loan
This query is : Resolved
24 February 2009
I(Individual) purchased a plot and took a loan for Rs. 50 Lacs. EMI is rs. 1 lac (Principal 25000+ Interst 75000). I accounted in my books as plot under fixed assets for Rs. 50 Lacs.
Please clear what will be treatment of Interst paid under EMI each month? Should it be shown under drawings and less then capital? I am a salaried person.
Please clear what will be treatment of Interst paid under EMI each month? Should it be shown under drawings and less then capital? I am a salaried person.
29 March 2012
The interest portion shall be debited to P&L A/c
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
- ITR-3 ignores Section 211 (1) (b) for Professionals u/s 44ADA
- ERROR IN ITR3
- Upload Level Validation Error
- Regarding GST applicability on RWA
- AY2025-26- Bug in ITR2 Online Filing - TDS Section related to Property Sale
- Error while filing ITR3 AY2025-26
- Profession Tax- Maharashtra
- BUSINESS +STOCKS
- Form 10E requirement for Leave encashment and Gratuity received at retirement
- Rectification of error U/s 154
- GST TDS on metal scrap
- Upload Verification Error ITR 3 AY205-26
- ITC Inter head difference
- 80CCD(2) of IT ACT
- Guidance for proper GST accounting (eway bill with correct valuation) for cut-to-pack job work given
- GST Treatment multiple delivery services
- Sale of foreign shares in Indian Rupees - FEMA rules
- Calculate Tax Liability of Sharmila
- Document to add trade name
- GST Partners addition
Trending Online Classes
-
Input Tax Credit, GST refunds and Recovery of refunds- Roadblocks and way outs
CA Nipun Arora03 September 2025 -
GST LIVE Certification Course - 43rd Weekdays Batch(With Govt Certificate)
Industry Expert15 September 2025
CAclubindia
