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Bank od interest regarding

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744 Points Posted on 30 August 2022
can we debit bank od interest in p nd l accouunt
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On 30 August 2022 at 09:50 Report
Replies (4)
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SEO Sai Gr. Hosp.
211715 Points Posted on 30 August 2022

Yes, provided the overdraft loan used for the business purpose.

1 Reply
On 30 August 2022 at 09:52
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Profession Business
28207 Points Posted on 30 August 2022
Interest accrued and interest both will be disclosed in balance sheet and p /l
1 Reply
On 30 August 2022 at 11:40
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CA
156 Points Posted on 30 August 2022
Yes, Bank OD interest is debited to Profit and Loss by the name Interest on Bank Loan if OD limit is used for the business activities of the company/ firm.
1 Reply
On 30 August 2022 at 15:21
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Chartered Accountant
86505 Points Posted on 03 September 2022
Yes as same is for business purposw
1 Reply
On 03 September 2022 at 19:39


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