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Personal loan not paid back

Tax queries 500 views 7 replies
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Accounts
106 Points Posted on 08 September 2023

Hi 

if any personal loan is unpaid then will it be treated as income or capitalised? 

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On 08 September 2023 at 16:43 Report
Replies (7)
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CFO- at NHTF
58280 Points Posted on 08 September 2023
It will be under liability till the external confirmation received.

You may need to treat it as income
59 Reply
On 08 September 2023 at 16:52
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Profession Business
28207 Points Posted on 08 September 2023
In personal books.
44 Reply
On 08 September 2023 at 17:14
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CFO- at NHTF
58280 Points Posted on 08 September 2023
If no confirmation is received then it remains as loan under liabilities
59 Reply
On 08 September 2023 at 17:15
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Accounts
106 Points Posted on 08 September 2023

After receiving confirmation can it be treated as income? The amount is approx 50lakhs

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On 08 September 2023 at 17:16
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CFO- at NHTF
58280 Points Posted on 08 September 2023
Yes. It should be income only
59 Reply
On 08 September 2023 at 17:16
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"Do the Right Thing...!!!"
128147 Points Posted on 08 September 2023
No, It's not an income.
It's will capitalize...
463 Reply
On 08 September 2023 at 18:10
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Profession Business
28207 Points Posted on 13 September 2023
If it is not entered or registered in books then it is ok
44 Reply
On 13 September 2023 at 16:41


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