If Home loan shown in Balance sheet as liability and repayment shown from another savings account. Home loan liability shown after deduction of the repayment. Is it possible to take 'repayment of Principal amount' to 'Capital account'. If yes, please post 'journal entries' for the same.
Yes... The Balance amount can be shown in BS. No need to transfer the Principal Amount to Capital account of its individual ITR... Interest amount will transfer to Capital account.
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