Sir,
The long term holdings of shares by the promoter company in its subsidiary has diminished totally.Hence the value is debited to P&L account.Will it be allowed as expenses by income tax rules
sukumar (Accountant) (59 Points)
06 August 2014Sir,
The long term holdings of shares by the promoter company in its subsidiary has diminished totally.Hence the value is debited to P&L account.Will it be allowed as expenses by income tax rules
Rohan Maakan
(Semi Qualified Assistant)
(88 Points)
Replied 08 August 2014
No, Income Tax doesn't allow such expenses.. It can be allowed only if u incur a loss on sale of this investment..
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