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Editorial Board on Accounts and Audit
  • Insurance AGAINST HOUSING LOAN

    by Nikhil on Tuesday, May 07, 2019 at 11:43 AM

    Insurance EMI PAID PER MONTH AGAINST HOUSING LOAN .IN BOOKS HOW EFFECT WILL COME . ITS A PERSONAL SOP FLAT

    Replied byEditorial Board Wednesday, May 15, 2019 at 08:23 PM

    Dear Nikhil,

    Please elaborate your query. Per se, personal property do not form part of the businesses unless used for business purposes.
    If the flat was used entirely for business purposes then insurance cost of such EMI may be clubbed under 'other expenditure'.

 
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