interest exp

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29 Points Joined November 2018
how many types of interest is deductible from interest income of partner ship firm?
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On 16 November 2018 at 15:20 Report
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1276 Points Joined October 2018
Your question is not clear. Can you elaborate it?
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On 17 November 2018 at 00:37
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29 Points Joined November 2018
interest exp of loan from finance company can be deducted from interest income from partner ship firm?
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On 17 November 2018 at 12:15
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1276 Points Joined October 2018
No, interest income should be separately shown credit side of p&l a/c and interest expenses debit side of p&l a/c.

We can't adjust interest expense from interest income.
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On 17 November 2018 at 12:20


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