Menu
Realisation of debt by selling the asset under charge
a IT company has given a loan to a firm but now the firm is unable to repay it so the firm give its inventory in full settlement. my query under which head of balance sheet (assets) of schedule 3 it is to be disclosed?
Replies (3)
First remove the charge and then sell.
Yes but under head of asset it is to be disclosed till it is sold
Other current assets.
Recent Threads
- Exemptions under New Tax Regime
- ITR-2 Payment Made but Status Not Updated
- Need help for ITR filing
- ITR Updated returns. Time limit for filing
- ITR 2 Processed and Refund Credited to Bank
- Freelancer or Salaried
- LTCG Tax and Indexation on Debt Mutual Funds Sold
- Section 45(5A) and 194IC with carry forward of tds
- Paid tax amount, CIN generated and challan downloa
- INTRADAY INCOME PRESUMPTIVE INCOME
Related Threads
CAclubindia
