19 August 2010
Dear All, For loan repayment EMI scheme which contain interest & principal EMI Due on every month but i paid in Delay Can i booked the same in this year and claim the the interest And The penal interest bis also an allowable expense?
19 August 2010
Until & Unless you have not paid interest, then why can book it expesnes. As soon as intalment is paid then interst will be claimed. Penal Interst will not be allowed.
CAclubindia
