Sir,
Owner have term loan where yearly interest Rs. 560000/- so Can we transfer interest amount to Capital account. Can we show under profit & Loss account.
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Interst Paid term loan
Replies (2)
if loan taken for the business than it will be transfer in P&L account. Otherwise it will be part of drawings.
@ Mr Vaneet Monga,
Your query is confusing...
Ask with correct details...
That Term loan is individual or business...??
Your query is confusing...
Ask with correct details...
That Term loan is individual or business...??
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