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Interest on loan

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84 Points Joined September 2020
i have two firm, both are under same proprietor,
i have unsecured loan in firm 2
can i pay interest on unsecured loan from firm 1
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On 13 December 2020 at 20:01 Report
Replies (3)
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Tax consultant
5895 Points Joined September 2020
Yes as per me you can
but just maintain proper books of account regarding this for future calculation and reporting
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On 13 December 2020 at 20:32
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Accountant
3662 Points Joined May 2018
You can pay through capital account adjustment s
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On 13 December 2020 at 22:59
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84 Points Joined September 2020
Thanks
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On 14 December 2020 at 18:09

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