How to treat theft of cash

Harsh Singla (Owner ) (24 Points)

01 September 2014  

Dear All

 

Please help me in treating Theft of cash according to income tax.

 

my accountant withdrew Rs.1 lac from the bank, but on the way, when he stopped for some work, the cash was stolen from his bike.

 

i want to know whether this loss will be considered in my final accounts for calculating income.

 

also please tell if my annual income in less than the stolen amount, can this loss be carried forward to next year?