Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160835 Points)
Replied 20 May 2023
For what purpose the loan was taken?
gaddala ramesh
(163 Points)
Replied 20 May 2023
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160835 Points)
Replied 20 May 2023
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.
gaddala ramesh
(163 Points)
Replied 21 May 2023
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160835 Points)
Replied 22 May 2023
What purpose the mobile is used?
gaddala ramesh
(163 Points)
Replied 22 May 2023
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160835 Points)
Replied 22 May 2023
Mostly its expenditure, except loan account created earlier.
CAclubindia
