Loss due to cyber crime
This query is : Resolved
11 April 2012
We suffered loss of advance payment to china supplier due to cyber hackers
Can we claim it as expense in Profit & Loss account for income tax purpose
Can we claim it as expense in Profit & Loss account for income tax purpose
11 April 2012
Yes Gaurav. You can certainly claim it but then you should be ready for litigation. As of now, such expense is deductible.
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