Menu
Monthly EMI
monthly emi is capital expenditure or expense
Replies (7)
Quick Summary
For what purpose the loan was taken?
One is bike loan, one is car loan, one is property loan
For business entity: Principal amount can be considered as capital repayment of loan amount, and interest as revenue expenditure.
For others the vehicle loans can be revenue exp., while property loan as per business entity.
Cell phone purchased EMI going on every month it is loans (liability) or expenditure
What purpose the mobile is used?
Mobile using for personal and asking doubt for individual filing only
Mostly its expenditure, except loan account created earlier.
Recent Topics :
- TDS payment code query
- Query on FLAIR return
- Itr 4 problem
- Capital Gains Mismatch Due to Sale Agreement in FY
- REGARDING NRO INVESTMENT IN SHARES OF DOMESTIC COM
- DTAA benefits
- SUPPLEMENTARY AGREEMENT FOR ADDING A PARTER IN TN
- Part availmement of ITC in case of rejection of su
- Due date for itr 5 no audit with loss for fy 25 26
- Capital Gains Mismatch AIS
Related Topics :
CAclubindia
