interest exp
Hardi Tripathi (29 Points)
16 November 2018
how many types of interest is deductible from interest income of partner ship firm?
3 Replies
Mayur Patil
(Article)
(1276 Points)
Replied 17 November 2018
Your question is not clear. Can you elaborate it?
Hardi Tripathi
(29 Points)
Replied 17 November 2018
interest exp of loan from finance company can be deducted from interest income from partner ship firm?
Mayur Patil
(Article)
(1276 Points)
Replied 17 November 2018
No, interest income should be separately shown credit side of p&l a/c and interest expenses debit side of p&l a/c.
We can't adjust interest expense from interest income.
We can't adjust interest expense from interest income.
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