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Unsecured loan write off is taxable

This query is : Resolved 
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(Querist)
15 March 2020 I borrowed some money and put into business now I am not reCeiving the money back but to whom i borrowed the money cannot wait so I am paying 40 % of the amount borrowed and offer for settlement they also agree but how to write off the remaining amount
or the remaining amount write off will be taxable
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Nitin Daga

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Nitin Daga (Querist)
15 March 2020 if a company goes for settlement how it settled the remaining amount
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Nitin Daga

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Nitin Daga (Querist)
15 March 2020 if a company goes for settlement how it settled the remaining amount

Read more at: https://www.caclubindia.com/experts/unsecured-loan-write-off-is-taxable-2787439.asp
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Nitin Daga

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Nitin Daga (Querist)
15 March 2020 big companies when settled amount they pay tax to renaining amount if they write off or either they do not write off the amount
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V K Vijayaraghavan

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V K Vijayaraghavan (Expert)
16 March 2020 Taxable unless that was for buying a capital asset .
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