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107 Points Joined December 2016
I have lost goods worth rs20,000 against which I got insurance compensation of rs 25,000.then difference i.e rs5,000 taxable as business income under which head?
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On 04 January 2017 at 21:23 Report
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Guest
first of all how can compensation be more than loss??
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On 05 January 2017 at 00:01
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107 Points Joined December 2016
it is sir....
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On 05 January 2017 at 07:28
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107 Points Joined December 2016
wts d treatment
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On 05 January 2017 at 07:28
Guest
5000 deemed income then n i think sec 41(1) nt sure abt section
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On 06 January 2017 at 17:16
Guest
i think 20000 u will claim as a deduction then amt recovered agaist exp./loss is fully taxable that means 25000 u/s41(1)
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On 06 January 2017 at 23:22


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