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House property

177 views 3 replies

mukesh thakur

22 Points Posted on 15 December 2020

how to show House loan in balance sheets?

Replies (3)

sabyasachi mukherjee

Profession Business

28207 Points Posted on 15 December 2020

Business and personal expenses are seperate,hence you can't integrate both under one common platform.
There may be some disclosure parameters as per Schedule Vi

ayusmita

Tax consultant

5895 Points Posted on 16 December 2020

You can't show whole total of house loan in balance sheet as it's interest and principal are treated differently in financial statement

sabyasachi mukherjee

Profession Business

28207 Points Posted on 17 December 2020

If it's an individual's balance sheet then its absolutely fine.

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