21 March 2018
One of My Clients Need Housing Loan of Rs.30 lac.Repayment period 240 Months. and Monthly EMI Rs.20,000. My query is What amount Should I show as Net Profit in Profit and Loss a/c?
22 March 2018
above transaction not affect in P& L account , Same to be adjusted below P& LA/(Interest ),Principal automatically get adjusted with loan A/c.
CAclubindia
