Principal loss on corporate fd -- how to claim loss in itr

Dear Seniors,

Kindly assist me with the following Query. 

1)  Made a company  FD  ( Avon group )  for  1 years ( Apr-2012 maturity ) , another for  2 years ( Jun-2013 maturity )

2)   AVON company customer support has been delaying the payment of prinicipal, and the interest for the  1-year FD, now delayed for 1-year now.

How could I in this case claim a loss of Principal amount, and show it in the ITR to  atleast reduce little bit my tax liability ?

 

Thanking you in advance,

V Chir

Replies (1)

You cannot claim the loss of principal as it was only loss of deposit.  It is not a trading loss either.  So you cannot reduce your tax liability on that count.  What about the interest component?  The Taxman would like to tax it on accrual basis even though you have not received it.  This is another sticky question over which there is no clarity. 

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
25 August 2026
Senior Accountant

MG Associates

New Delhi

CA Inter

View Details
Company
18 September 2026
Accounts & Finance Specialist

ULTRA CHEMICAL WORKS

Thane

CA Final

View Details
Company
29 August 2026
Chartered Accountant

Velionit Consulting PVT LTd

Mumbai

CA

View Details
Company
ARTICLESHIP 15 September 2026
Freelance Taxation Content Writer Intern

Interactive Media Pvt Ltd.

New Delhi

CA Inter

View Details
Company
08 September 2026
Semi-Qualified Assitant

Subrahmanyam & Sivudu CA Firm

Hyderabad

CA Inter

View Details
Company
ARTICLESHIP 07 September 2026
CA Articles

Kothari Jain Patil & Chartered Accountants

Pune

CA Inter

View Details
Company
20 September 2026
Semi Qualified CA

Navin & Associates

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 24 August 2026
Chartered Accountant Articles

Rohit KC Jain & Co

New Delhi

CA Inter

View Details