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House property

mukesh thakur (22 Points)

15 December 2020

how to show House loan in balance sheets?

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sabyasachi mukherjee (27465 Points)
Replied 15 December 2020

Business and personal expenses are seperate,hence you can't integrate both under one common platform.
There may be some disclosure parameters as per Schedule Vi

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ayusmita (Tax consultant) (5885 Points)
Replied 16 December 2020

You can't show whole total of house loan in balance sheet as it's interest and principal are treated differently in financial statement

sabyasachi mukherjee (27465 Points)
Replied 17 December 2020

If it's an individual's balance sheet then its absolutely fine.

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