Please guide me on the following:
A Pvt Ltd Co has taken Loan of Rs 5,00,000 from Director's wife .
Repaying Rs 7500/- as monthly Installment. How do one accrue Interest (10%) on half yearly basis on the above loan on Reducing Balance method.
1 Replies
HITESH
(CA STUDENT)
(50 Points)
Replied 17 September 2011
Hi,
In this case, Accrued Interest for first half will be around 24600
Recent Topics
- Extended Date of GSTR-1 for the month of July 2020
- NRO Interest - Taxed at source and in Foreign Coun
- Clarity needed on effective date
- Income Tax Refund Deadline Shortened to Five Years
- Rectification Applications for Past GST Demands
- GST Invoices Series
- FILING OF ITR AY 20-21
- CLAIMING OF UNCLAIMED RCM
- Building construction works
- REGARDING GSTR-9 F.Y 2023-24
Related Threads
CAclubindia
