Int on loan
This query is : Resolved
21 June 2015
Intrest in loan is a charge against profit or appropristion of profit?
and it is to be shown at P&L ac or appropriation ac?
21 June 2015
P&L account...................
21 June 2015
Charge in profit and loss account. As its revenue nature expenditure.
22 June 2015
if loan for business purpose then you can claim in P & l a/c
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