I have a query friends!!!!!
The person(individual) has taken a loan.In the balance sheet liability side,the person is showing the loan amount.
From starting the accountant has done mistake by deducting whole amount(principal+interest portion).Now i have a question that can i take the benefit of deducting the interest portion in 3rd year including the amount of 1st and 2nd year which the previous accountant has wrongly deducted from the loan amount and adjusting the laon figure????
Menu
Wrong entry!!!
Replies (3)
yes u can do that ....giving the restrospective effects to the loan amount........
thanks ankit!!!!
ur welcome dude ...
Recent Topics :
- How to find a good CA
- Rcm on rent paid
- Clarify on GST Application
- Residential status for overseas students visitin
- Capital Gains Tax
- LTCG 112A and business loss
- FAST-DS 2026 applicability: foreign employee share
- NRI Property Sale in India: TDS Rates and Key Comp
- Clarification on September 2026 PF Calculation for
- DRC-03 interest paid under CGST/SGST instead of IG
Related Topics :
CAclubindia
