Loan & advance dr balancew written off
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 August 2014
A company wants to write off its Loan & advance Dr balance. This is Amount is the the Temporary Loan given to Other company & related Party .
Now due to Settlement company wants to write off from books.
Please suggest it is allowable under Income Tax Act?
Now due to Settlement company wants to write off from books.
Please suggest it is allowable under Income Tax Act?
Nikhil Kaushik
(Expert)
24 August 2014
why would you get deduction for writing off a loan?
11 September 2014
only exp are allowed is this an exp?
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