Write back of Loans Taken
This query is : Resolved
22 September 2008
Whether loan taken now no more payable will be liable to tax in the year of witen back?
22 September 2008
Principal amount of loan waived will be subject to tax as capital gain.
22 September 2008
explain the circumastances due to whcih no more payable ............is it case of gift by lender........then check out for provisions taxing gift as income
23 September 2008
if it is pertaining to Fixed asset purchase reduce from that cost.
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