Interest payable 2330

Definition

Interest payable 2330 is the interest that the organization had to pay in the reporting period:

interest paid on all types of borrowed obligations of the organization (including on commodity and commercial loans, bond and bill loans), except for that part that is included in the cost of the investment asset or used for prepayment of inventories, other valuables, work , services;
discount payable on bonds and bills, except for that part of it that is included in deferred expenses in accordance with the organization’s accounting policies.

In anfin.ru services, the value of this indicator is entered into the cells without the minus sign.

Initial legal interest

Federal Law No. 42 of March 8, 2015 introduced into legal force Article 317.1 of the Civil Code of the Russian Federation, which contained requirements for the payment of interest on monetary obligations. Commercial structures operating under contracts already concluded before July 1, 2015, when the law came into force, were somewhat confused. According to the law, unless otherwise specifically stated, the specified legal interest is accrued automatically. But what about existing agreements that did not address this issue?

If the parties do not intend to take into account the newly introduced interest, they will have to renegotiate the agreements and make changes to them. If the agreement is not changed and legal interest is accrued, then they must be reflected when calculating income tax (clause 6 of Article 271 of the Tax Code of the Russian Federation) or included in expenses (clause 8 of Article 272 of the Tax Code of the Russian Federation).

Both are quite problematic in the context of short terms and a large number of contracts.

In connection with this complexity, the President of the Russian Federation signed Law No. 315-FZ on July 3, 2021 introducing an amendment to this legislative norm.

Conclusions about what a change in indicator means

If the indicator is higher than normal

Not standardized

If the indicator is below normal

Not standardized

If the indicator increases

Negative factor

If the indicator decreases

Positive factor

Notes

The indicator in the article is considered from the point of view not of accounting, but of financial management. Therefore, sometimes it can be defined differently. It depends on the author's approach.

In most cases, universities accept any definition option, since deviations according to different approaches and formulas are usually within a maximum of a few percent.

The indicator is considered in the main free online financial analysis service and some other services

If you need conclusions after calculating the indicators, please look at this article: conclusions from financial analysis

If you see any inaccuracy or typo, please also indicate this in the comment. I try to write as simply as possible, but if something is still not clear, questions and clarifications can be written in the comments to any article on the site.

Best regards, Alexander Krylov,

The financial analysis:

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What is legal interest

Civil Code of the Russian Federation in Art. 317.1 states that interest must be accrued for any use of money within an agreed period. In the text of the law they are not called “legal”; this term has simply come into use among businessmen. We are talking about “ interest on monetary obligations .”

Is it possible to simultaneously recover legal interest and interest under Art. 395 Civil Code of the Russian Federation ?

According to the law, a monetary obligation is considered:

financial loan;
money paid late;
deferment or installment payment;
advances;
making an advance payment, etc.

Question: Under a contract for the supply of equipment with subsequent payment, concluded on July 25, 2021 for two years, payment is made within 14 calendar days after shipment. Delivery of equipment is provided quarterly starting from August 5, 2021. Is it necessary to accrue interest under Art. 317.1 of the Civil Code of the Russian Federation and take them into account in income tax if the agreement does not provide for their accrual? View answer

All types of monetary obligations on which interest must be paid are listed in Art. 823 Civil Code of the Russian Federation.

ATTENTION! Legal interest is not a penalty that is assessed for late payments or improper withholding of money. Liability in the form of a fine provides for the payment of interest under clause 1 of Art. 395 of the Civil Code of the Russian Federation for the use of other people's finances. And legal interest is paid regardless of whether the payment was late or not - simply for the very fact of using the counterparty’s money.

Refund of money spent on education

The maximum possible amount is 15,600 per year. The right to obtain a tax deduction arises for the entire period of study at an educational institution, including a driving school or courses, upon annual filing of a declaration. Compensation is possible for your own education or full-time education of a child under 24 years of age. This money does not pay back the interest on the loan, but can reduce the financial burden.

Required documents:

income certificate 2-NDFL;
declaration 3-NDFL, filled out on its basis;
agreement with an educational institution;
supporting documents on tuition fees;
documents establishing kinship if you are not paying for your own education.

This deduction can also be obtained through your employer or the tax office.

Tax deductions are a great opportunity to save money on purchasing your own home, stimulating both young families and the construction industry. It is a pity that many, out of ignorance, do not take advantage of such concessions from the state.

How is it calculated

The deduction reduces the tax base, i.e. the amount from which the fee was withheld. The compensation corresponds to the actual interest paid (up to 3 million rubles). The state compensates up to 13 percent of the purchase of an apartment with a mortgage. So, for example, if the bank was paid interest for 200 rubles, you can return 26 rubles.

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You can receive an amount not exceeding the amount of taxes paid. If 100 rubles were paid for interest on a loan in 2021, you can reimburse 13 rubles. But this is only possible if in 2016 the employer withheld personal income tax in the amount of 13 rubles. If, for example, 9 rubles are calculated at the end of the year, the remaining 4 rubles will be transferred to future periods.

The law does not impose a limit on the number of years of reimbursement. If the mortgage agreement is signed for 30 years, then you can claim it annually as interest is paid.

Design methods

How to get a mortgage interest deduction:

through the Federal Tax Service - at the end of the year for which the withholding is issued;
through the employer - throughout the year, without paying additional fees.

To apply for a tax deduction for interest paid in 2016, a person needs to wait until the end of the year and already in January 2017 submit to the Federal Tax Service all documents for a tax refund in a single amount (up to 13% paid in 2021).

Or you can request all the necessary certificates from the tax office and submit them to the employing company to receive a deduction through it. The employer will actually not return anything; he simply will not withhold personal income tax until its total value reaches all the interest paid last year.

As for the deduction for mortgage interest, a lump sum payment is possible only upon full repayment of the loan. If the loan is still being paid off, the deduction will be provided each year at a rate of 13%, calculated on the amount of interest paid for one year.

The frequency of payments is limited by the duration of the agreement with the bank, and the amount is 3,000,000 rubles (accordingly, the compensation will be about 390,000 rubles).

Documentation

Tax refund from consumer loan

The right to such a return arises for a citizen in the event of early repayment of a loan with annuity payments or its refinancing.

With equal monthly payments, interest on the principal debt is paid first, based on the term of the loan itself and the remaining amount.

This can be seen if you carefully study the payment schedule. Banks thus insure themselves against possible failure to fulfill obligations by the borrower and financial losses.

In case of early or partially early repayment, the previously established period for using the loan or part of it is actually reduced, for which you can ask for compensation from the bank.

Any overpaid interest included in annuity payments can be requested to be recalculated by writing a corresponding application to the bank.

In judicial practice, there are quite a lot of positive decisions in this matter, so if the bank refuses to accept the relevant application, you can safely file a claim with the judicial authority of your area.

The right to receive tax benefits arises immediately after receiving ownership of real estate and has no limitation on the statute of limitations. The buyer can submit documents at any time, regardless of the end of the financial year. But it's important to understand the difference between a refund and a tax deduction.

With a tax deduction, the Internal Revenue Service gives permission to the employer not to pay taxes on the applicant's income. That is, from the moment the permit is transferred, the employer, instead of transferring taxes to the treasury, pays them to the employee.

Tax refunds are calculated based on past calendar years and cannot be calculated monthly. Accordingly, to receive a refund of taxes paid, you must wait until the end of the calendar year for which the refund is planned, and only then submit documents.

Example. The property was purchased in 2021. In 2019, the owner applied for a tax refund. He has the right to return taxes for 2021 and part of 2021 in the amount of up to 260 thousand rubles. Moreover, if the return was less, the remaining amount can be returned upon subsequent requests.

Refund procedure

It should be noted that a citizen has two ways to obtain a tax deduction. You can issue a refund of the entire amount from the tax service once a year after filing an income tax return, or if an agreement is concluded with the employer, the 13% tax is not withheld from wages at all.

First of all, you need to confirm with the tax authority your right to receive a tax deduction. It is enough to submit a package of documents to the department at your place of residence, including:

income certificate in form 2-NDFL;
title document for the apartment (purchase and sale agreement, deed of transfer of ownership, etc.);
certificate of registration of ownership;
loan agreement with the bank;
confirmation of completed payment (receipts, receipts, bank payment orders, etc.);
application for a certificate of the right to a tax deduction (upon receipt of compensation from the accounting department at the place of employment);
bank certificate confirming interest paid for the use of credit funds.

Based on these documents, the tax service is able to establish the right to a tax deduction. At this stage, you can provide the employer with the appropriate tax notice and receive wages in full within the limits of the required deduction.

You can submit documents in person, by mail or using your personal account on the tax service website.

When filing a tax return, a desk audit is carried out within 3 months, after which, if the decision is positive, the amount withheld for the year will be paid. To receive all the funds due, you must submit a declaration every subsequent year. But this is not entirely convenient, so in the future it will be better to apply for a certificate of the right to deduction and receive a deduction from wages without deduction of interest.