As per IT Act impairment loss should be disallowed.
What if I maintain books as per IT Act. Can I show impairment loss and later disallow or is impairment loss not covered at all. So that I cannot show impairment loss at all.
Even if you show impairment loss in books while computation of IT you need to add back that much portion of loss debited to PNL so its fine if you show in books
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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