emi and related interest comes under which head, pls suggest, expenditure or loan
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Quick Summary
This discussion seeks clarification on how to classify Equated Monthly Instalments (EMIs) for significant purchases like cars, property, or bikes. Specifically, the user wants to know whether the EMI, including the interest component, should be categorised under 'expenditure' or 'loan interest' for tax or accounting purposes. Further details are requested to provide a more precise answer.