Capital Loss OR Write-off as expenses
This query is : Resolved
27 August 2023
I have a showroom for home interiors registered under LLP. Its capital value after depreciation every year is around 50 lakhs. I am closing the showroom, scrapping all the items and most probably will be closing the LLP too.
This 50 lakhs has to be treated as capital loss OR can be writtne off as an expense.
This 50 lakhs has to be treated as capital loss OR can be writtne off as an expense.
28 August 2023
It can be written off as an expense.
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