Proprieties have 3 Term Loan and 2 CC Loan account Interest from All Loan account FY 2023-24 is Rs.991000/- Where 661000/- Interest as Term loan. Proprietor have taken term loan from shop and home proprietor but he used Loan amount for Business purpose. In FY 2023-24 Net profit is around Rs.43500/- according to owner we should show NP around Rs.600000/- So can we Charge Term Loan Interest Rs.661000/- to owner,s Capital account and Rs. 330000/- CC Interest to PNL Account Please advise Sir,
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