whether incidental business losses like embezzlement, theft, dacoity are claimed as deduction under PGBP?If it is deductible then whether it is claimed as deduction under section 37 or any other section of PGBP.
Anticipating a quick reply
Menu
Incidental business losses
Replies (1)
Generally its reimbursed through insurance claim. Any additional loss is transferred to P&L account.
Also have to verify if the loss is of capital asset... So it is evaluated on case to case basis.
Recent Topics :
- Criteria to hire an article
- Guidence requested for a Finance Professional with
- Expert Opinion Required – Form 140 Gross Amo
- WRONG TAX DEMAND - formal responses , rectificatio
- Foreign remittance
- Affordable Residential Flats in Gurgaon
- Manufacturing
- TAN REGISTRATION ON E-FILLING SITE
- Form 10-IEA – Continuing Old Regime
- Income tax act 2026
Related Topics :
CAclubindia
