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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.
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