Question

8.
Which
of
the
following
is
not
deducted
from
capital?





































1
Mark



(a)
Net
Loss




(b)
Drawings



(c)
Loan




(d)
Income
Tax​

Answer 1

Answer:

loan is not deducted from capital it is shown as main head in liability side of balance sheet

Answer 2

Answer:

LOAN is not deducted from the captial.

Explanation:

 Loan is shown as main head in liability side of balance sheet.

    The Supreme Court has ruled that the interest paid on borrowings for the purchase of capital assets but “not put to use” in the concerned financial year is also eligible for income-tax deduction.

    There are multiple reasons as to why the EMI amount is not deducted. One reason could be when the EMI date falls on a holiday. In that case it will be debuted the next day and if not the next day, within the same month. If it's a bank holiday, then you won't be charged the late fee.

the project code is #SPJ3