i have a business of garment job work
my annual turnover is 40 lacs.
i have taken a loan amounting to Rs. 17 lacs for purchase of a residential flat .
my question is that should i show this flat in my balance sheet for the FY 2019-20
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Regarding home loan
Replies (5)
No need show in the business account...
Yes you show in the balance sheet that effect your total net worth.
In my view:
In the case of Proprietorship :individual can have two balance sheets. One is business balance sheet and another is personal balance sheet. Residential plats to be shown in personal balance sheet.
In the case of Proprietorship :individual can have two balance sheets. One is business balance sheet and another is personal balance sheet. Residential plats to be shown in personal balance sheet.
But sir EMI paid through business current account
Thanks sir
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