Sumit's Expert Profile

Queries Replied : 3

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About me

A qualified practising Chartered Accountant successfully practising at Aggarwal & Associates, Chartered Accountants having its office at Dwarka, Sector 22, New Delhi providing all kinds of services which a chartered accountant is legally entitled to perform.

 

    What kinds of questions I can and can't answer?
    income tax, service tax related issues

    My area of expertise
    income tax

    My experience in the area (years):
    0

    Organizations I belong to:
    icai

    Publications or writing which has appeared :
    none

    Educational credentials:
    pursuing CA Final

    Award & Honors:
    income tax, service tax related issues

  • Vijit says : Loan Waiver
    Thank you for your valuable comments. As you said, loan principal amount will be credited to P&L A/c, I would like to know why it should be credited to P&L A/c and why it cannot be credited directly to Capital Reserve A/c. If we Cr. P&L A/c, it will attract MAT Liability in Loss Making Co.


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