Payments towards Instalment of Housing Loan & Ca
This query is : Resolved
23 February 2010
Wheather payments made towards instlments of Housing Loan & Car Loan are deductible from personal drawings of a proprietor of a firm. Please clarify ?
What exactly the nature of this expence is ?
Where to show the principal amount and
where to show interest amount?
What exactly the nature of this expence is ?
Where to show the principal amount and
where to show interest amount?
23 February 2010
Dear Raj
If u r using the car for business purpose then u can claim interest as expense and loan to liability side.
For home loan :- Interest and principle amount paid is to be deducted as drawings.
As it is proprietorship firm u can show House property on asset side and loan on liability side.
If u r using the car for business purpose then u can claim interest as expense and loan to liability side.
For home loan :- Interest and principle amount paid is to be deducted as drawings.
As it is proprietorship firm u can show House property on asset side and loan on liability side.
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
- TDS 194-T applicability
- Tds on commission charges
- GST ITC REVERSE
- Applicability of GST on Salary Reimbursement Component
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- Need Professional Opinion AY 2012-13 Old Demand
- Withdrawal in cash from partners capital account by partner
- Renovation exp. in flat by family member
- FAST-DS Scheme - Foreign Assets
- Regarding Applicability of Tax Audit u/s 44AB
- Dep. as per companies act
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
Quick Links
08 September 2026
Semi-Qualified Assitant
Subrahmanyam & Sivudu CA Firm
Hyderabad
CA Inter
View Details
ARTICLESHIP
18 September 2026
Industrial Trainee
Twenty Point Nine Five Ventures Private Limited
Noida
CA Inter
View Details
Featured
11 September 2026
Audit Executive
RBSM Corporate Advisors Private Limited
Pune
CA
View Details
09 September 2026
SENIOR AUDITOR & ACCOUNTS MANAGER
Anupam Parashar & Co.
Ghaziabad
CA Final
View Details
CCI
Pro
CAclubindia
