Menu
Loss on value of cash
a firm have a old currency which is demonetized so how the firm write off the loss and does it get tax deduction on this loss ??
Replies (1)
The loss would be debited to capital account.
No deduction can be claimed in P&L account, as Government had given opportunity to change the old currency to new currency.
Recent Topics :
- Export Compliance
- Sale of plots in open land
- Income tax query
- Best CA Inter coaching in laxmi nagar
- HOW TO SELL SHARES OF PRIVATE LIMITED COMPANY SOME
- Unregistered Association of Persons (AOP) Agreemen
- Intimation u/s 245 of income tax act
- Ewaybill query
- IDS Refund: GSTR-2B Invoice Not Validated in State
- Self assessment tax paid not reflected in ITR2 fil
Related Topics :
CAclubindia
