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I have removed the loan from laibility section and now that amount is added to my assests? is it fine ?

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I took loan from my employer in tax year 23-24 and documented it in my return. For the current year, loan is cleared. I have removed the loan from laibilities sectiion and now that amount is added to my net assests for the current year? is it fine ?

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by (25.1k points)
You paid off the loan that should reduce your income.
How come asset is increased.
Something is missig in this info.

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