CCI Online Learning
What do you want to learn today?

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Insurance policy with NBFC loan

Kunal Mittal (FINANCE OFFICER)     10 August 2020

Kunal Mittal
 22 likes  531 points

| My Other Post

While taking a business loan from any nbfc they take an insurance policy on the name of the borrower.

Just in case the borrower doesn't pay up the insurance can be invoked.

Can this be taken as business expense or will it go in drawings.


Asha Kanta Sharma (Manager - Finance & Accounts)     11 August 2020

Asha Kanta Sharma
Manager - Finance & Accounts 
 146 likes  6435 points

View Profile | My Other Post

If the loan is for business and business pays for the Insurance then it is a Business Expenses.

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Related Threads


Popular Discussion

view more »

Trending Tags
GST Live Class    |    x