Clause 16 of form 3cd
This query is : Resolved
01 October 2015
loan waived by directors is it a capital receipt? if yes, why is it?
01 October 2015
Loan is CAPITAL or REVENUE?
If loan is CAPITAL its waiver is also CAPITAL is it not?
If loan is CAPITAL its waiver is also CAPITAL is it not?
01 October 2015
As per my view loan waiver by director shall be treated as taxable income in the hands of company.
01 October 2015
If the loan was for trading purposes, then waiver attracts tax liability, otherwise not exigible to tax.
Inference- CIT Vs. Jubilant Securities P Ltd. ITA No. 503 of 2010 (Del).
Inference- CIT Vs. Jubilant Securities P Ltd. ITA No. 503 of 2010 (Del).
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- TDS on Purchase of Immovable Property by NRI from NRI
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- SFT Cash Deposit in Current Account
- Value of property in capital gain
- When TDS on GST applied
- TDS APPLICABILITY......
- Copyright software
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
