Menu
Bank od interest regarding
can we debit bank od interest in p nd l accouunt
Replies (4)
Yes, provided the overdraft loan used for the business purpose.
Interest accrued and interest both will be disclosed in balance sheet and p /l
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.
Yes as same is for business purposw
Recent Threads
- GST - RCM - for Commercial Building Rent
- Exemption from Penalty for delayed Board meeting
- TDS ON PROFESSIONAL FEES IN NON AUDIT CASE
- Penalty are applicable on short payment of GST
- Closing Stock111
- INVOCIE GENERATED FROM ONE COMPANY AND EWAY BILL G
- Ineligible itc under section 16(4) & itc restr
- Itc on when mixed sales percent in hospitality
- Apply for GST registration while working in MNC
- Deferment period for Advance Tax under Section 234
Related Threads
CAclubindia
