Housing loan to show in balance sheet doubt

2411 views
User Avatar

3145 Points Posted on 04 February 2023
Mr X having housing loan

principal 85,061.09

towards interest 159018.92

in balance sheet on liabilities side under loan s whether I have to show with interest or only principal amount ???


plse help me
0 Reply Share Follow
On 04 February 2023 at 10:28 Report
Replies (7)
Quick Summary
This discussion addresses a query about how to present a housing loan on a balance sheet. The consensus is that only the principal loan amount should appear as a liability. Accrued interest, on the other hand, is typically recognised in the profit and loss account.

User Avatar

Profession
28271 Points Posted on 04 February 2023
Principal - *******
interest ********


repayment within a span .
1 Reply
On 04 February 2023 at 13:38
User Avatar

Chartered Accountant
86505 Points Posted on 04 February 2023
This is payment details not balance details. You have to show balance amount in balance sheet
2 Reply
On 04 February 2023 at 22:14
User Avatar

3145 Points Posted on 05 February 2023
@ Honourable Rashmi Gandhi mam thanking you for your guidance
1 Reply
On 05 February 2023 at 06:24
User Avatar

Profession
28271 Points Posted on 05 February 2023
Loan is a balance sheet item. the interest will appear in profit and loss account.
1 Reply
On 05 February 2023 at 09:02
User Avatar

Chartered Accountant
86505 Points Posted on 05 February 2023

Welcome Dear 🤗🤗

1 Reply
On 05 February 2023 at 12:15
User Avatar

2 Points Posted on 20 May 2023

https://www.oxfordinstitute.in/

Reply
On 20 May 2023 at 12:59
User Avatar

2 Points Posted on 27 September 2023

I read your article and I really like it its very useful and informative article 

https://www.grdindia.in/blog/current-home-loan-interest-rates-in-delhi:-a-guide-2023.html

Reply
On 27 September 2023 at 16:27

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Guidence requested for a Finance Professional with
  2. Expert Opinion Required – Form 140 Gross Amo
  3. WRONG TAX DEMAND - formal responses , rectificatio
  4. Foreign remittance
  5. Affordable Residential Flats in Gurgaon
  6. Manufacturing
  7. TAN REGISTRATION ON E-FILLING SITE
  8. Form 10-IEA – Continuing Old Regime
  9. Income tax act 2026
  10. Belated Return where Form 10IEA filed this year to

More recent discussions | Post

Related Topics :

Loading