PANDIAN BRIGHT (TAX CONSULTANT) (331 Points)
21 March 2018One of My Clients Need Housing Loan of Rs.30 lac.Repayment period 240 Months. and Monthly EMI Rs.20,000. My query is What amount Should I show as Net Profit in Profit and Loss a/c?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177736 Points)
Replied 21 March 2018
Around 6 lakhs (assuming no other EMI/liability)
PANDIAN BRIGHT
(TAX CONSULTANT)
(331 Points)
Replied 21 March 2018
Sir,
Could I know how it will be Calculated?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177736 Points)
Replied 21 March 2018
Thumb rule for Home loan........... maximum 60 times monthly take home salary.
CAclubindia
