Entry for loss on investment
Querist : Anonymous
We are Pvt. Ltd co. we did investment of Rs.7500000/- in Pvt Ltd co.during 2006-07 now in December 2012 we sold the share and we received Rs825000/- so what will be entry for the same?
Thanks in advance.....
Loss on Sale of Investment A/c Dr
To Investment A/c
Querist : Anonymous
Querist : Anonymous
While computing business income for income tax purpose, the loss will be added back (disallowed as covered under capital gains)
Querist : Anonymous
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