Trading in debentures

129 views 1 replies
User Avatar

53 Points Joined July 2017
My query is whether a partnership firm can trade in unlisted debentures?
and can it claim the loss incurred (if any) as business loss?
0 Reply Share Follow
On 16 October 2024 at 14:39 Report
Replies (1)
User Avatar

Master in Accounts & high court Advocate
9596 Points Joined December 2011

Regarding claiming losses as business loss: 1. *Business income*: If the partnership firm trades in unlisted debentures as part of its business, losses can be claimed as business loss. 2. *Capital asset*: If the debentures are held as investments (not traded frequently), losses may be treated as capital losses. 3. *Set-off and carry forward*: Business losses can be set off against business income and carried forward to future years, subject to tax laws and regulations. Please consult a tax professional or expert to ensure accurate guidance and compliance with relevant regulations.

Reply
On 16 October 2024 at 14:46

Summarize this with AI
ChatGPT Perplexity Claude Google AI Grok

CCI Pro

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Threads

More recent discussions | Post

Related Threads
Loading