05 January 2017
I have lost goods worth rs20,000 against which I got insurance compensation of rs 25,000.then difference i.e rs5,000 taxable as business income under which head?
06 January 2017
it is taxable as income from business if the stock is the stock of business. If the "stock" as mentioned by you is a capital item, then the same is not taxable
CAclubindia
