capital gains

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sumit chawla (Querist)
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12 September 2010 i had a short term capital loss in a.y. 2009-10 .....want to know wat is the accounting treatment for the s.t.c.g(loss)...to show it as current assets or deduct it from own capital a/c

CA Gunjan Kedia

CA Gunjan Kedia (Expert)
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13 September 2010 wen u incur a loss at the time of sale of asset, the loss is credited to the asset account and this loss is subsequently debited in the P/L a/c.

sumit chawla

sumit chawla (Querist)
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14 September 2010 well i have incur loss in the share market...so i need to show it in my b/s in asset side or deduct it from capital a/c

CA Gunjan Kedia

CA Gunjan Kedia (Expert)
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16 September 2010 a loss is incurred wen an asset is sold. since the asset in question no longer exists in ur books, where is the question of showing it in B/S ?

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