If interest receivable on Loans,Advances, Debentures, investment held was taxable earlier on accrual basis but subsequently sold and not received will be allowed as deduction??
If yes which section?
Yasir Ali (1 Points)
05 October 2020If interest receivable on Loans,Advances, Debentures, investment held was taxable earlier on accrual basis but subsequently sold and not received will be allowed as deduction??
If yes which section?
Puneet Taneja
(Finance Professional)
(1149 Points)
Replied 05 October 2020
In my opinion It won't be allowed as Deduction. You can also confirm the Answer from Somewhere else as i am not 100% sure about it.
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
