Personal loan unpaid

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Accounts
106 Points Posted on 07 September 2023

Hi 

if any personal loan is unpaid should the amount be capitalised or considered as an income in accounts? Amount is approx 50lakhs?

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On 07 September 2023 at 11:14 Report
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Quick Summary
This discussion explores the accounting treatment for an unpaid personal loan of approximately 50 lakhs. The core question is whether the outstanding amount should be capitalised or recognised as income. The consensus leans towards treating it as a liability, not income, especially once it's officially deemed not payable.

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CFO- at NHTF
58280 Points Posted on 08 September 2023
Should be considered as income once it is officially not payable
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On 08 September 2023 at 16:55
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Profession
28271 Points Posted on 11 September 2023
Loan is a liability not income.
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On 11 September 2023 at 08:24

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