Expenses

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Querist : Anonymous

Querist : Anonymous (Querist)

28 February 2012 can a car's emi be treated as an expense of a limited company..??

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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28 February 2012 Car EMI paid is loan repayment need to be adjusted with Car loan ledger.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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29 February 2012 The EMI shall be bifurcated into two parts. Principal and interest. This can be done from the loan statement.

The principal repayment shall be reduced from the loan account balance and the interest repayment shall be treated as an expense and charged to P&L Account.

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