Capital Loss Treatment
This query is : Resolved
12 July 2009
Can any one just tell me how to treat the capital loss from sale of Mutual fund in propreitery concern , it is to be deducted from propreiter capital or shown in the Liability side of B/S. Can u refer me the relavant Sec.for more Details.....
12 July 2009
Only incomes /gains can be shown on the liability side and not losses. Any loss in case of a proprietorship concern has to be debited to the capital account of the proprietor.
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