banner_ad

Capital receipts or revenue receipts

This query is : Resolved 
Profile Image

Profile Image

(Querist)
29 April 2013 My client has received Rs.2.00 lakhs as unsecured loan from individual person during FY 2004-05. No interest is paid till date. The person is not available and he is not able to trace him. Now during the FY 2012-13 he wants to write-off this loan from books of accounts maintained by him. whether this is capital receipt or revenue receipt if it is written-off during the FY 12-13.
Profile Image

VISHRUT

Profile Image

VISHRUT (Expert)
29 April 2013 This will be considered as capital receipt only.
It is clearly a receipt from the unknown sources which was not accountable in your client's books.

It has to be added as capital receipt only.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details