One of my client is travel agent. Its proprietorship business. He bought a new car in last FY through loan, now he has cleared the loan
1.My question is should i disclose new car in balance sheet?
2. Can i take interest paid on loan in P&l A/c?
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Regarding purchase of new car
Replies (2)
Yes you can show intt in pl
But car should be used for busienss purpose right??
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