Tax audit Individual Home loan principal repayment & Capital a/c effect

Raj Sree (20 Points)

07 October 2018  
If Home loan shown in Balance sheet as liability and repayment shown from another savings account. Home loan liability shown after deduction of the repayment. Is it possible to take 'repayment of Principal amount' to 'Capital account'. If yes, please post 'journal entries' for the same.