CC & Term Loan interest.

Nisha Kathuria (Accountant) (467 Points)

19 May 2024  
Dear Sir, Proprieties have 3 Term Loan and 2 CC Loan account Interest from All Loan account FY 2023-24 is Rs.991000/- Where 661000/- Interest as Term loan. Proprietor have taken term loan from shop and home propety. proprietor but he used Loan amount for Business purpose. So can we adjust Term Loan Interest Rs.661000/- to owner,s Capital account and Rs. 330000/- CC Interest to PNL Account Please advise Sir,