Small Company invested its contribution to EPF trust in unsecured debentures with private company. Now company is defunct and loss is now to be booked into small company books.
How to account the same. your views please
Shriram (Professional) (628 Points)
28 March 2023Small Company invested its contribution to EPF trust in unsecured debentures with private company. Now company is defunct and loss is now to be booked into small company books.
How to account the same. your views please
Ayush
(Executive )
(4162 Points)
Replied 28 March 2023
When a small company's investment in an EPF trust in unsecured debentures with a private company becomes defunct and a loss is incurred, the loss should be accounted for as follows:
Shriram
(Professional)
(628 Points)
Replied 28 March 2023
Thank you. The PF trust is also owned by Small company in such case will your opinion change
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