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What is the treatment in balance sheet net profit if capital loss is there? can i add this or less?
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SHOW IN P/L ACCOUNT
HOWEVER LESS IN COMPUTATION OF INCOME TAX (DISALLOWED)
AND CAPITAL LOSS CAN BE SET OFF LTCG ONLY
If your capital is loss, it comes in debit side of balance sheet. When there is net profit, it should be deduct from capital loss. When there is net loss, it should be add to capital loss.
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