it is not a income
it is liability
if you recognize it as an income
you can pay tax
see sections relating to the allowable expenses for interest expense
you can deduct the interest expense as i can remember
Na neda aiye...bankuwe thiyena salli liability ekk neh,Income ekk newei neh...bankuwe tiyena salli walin ena income ek yearly 500k ta wadi nam neh enne...e kiynne interest eka(not confirm)
it is not a income
it is liability
if you recognize it as an income
you can pay tax
see sections relating to the allowable expenses for interest expense
you can deduct the interest expense as i can remember
Na neda aiye...bankuwe thiyena salli liability ekk neh,Income ekk newei neh...bankuwe tiyena salli walin ena income ek yearly 500k ta wadi nam neh enne...e kiynne interest eka(not confirm)
A personal loan from a bank is not an income. When you get a loan you get an asset (cash in the bank) and an equivalent amount of liability (the loan).