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Int on loan

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(Querist)
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?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
21 June 2015 P&L account...................
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RONAK DARJI

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RONAK DARJI (Expert)
21 June 2015 Charge in profit and loss account. As its revenue nature expenditure.
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Rupesh Jain

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Rupesh Jain (Expert)
22 June 2015 if loan for business purpose then you can claim in P & l a/c

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