Unsecured loan writtenoff
Radhe Shyam (Article) (111 Points)
18 August 2018Thanks for reply.
Radhe Shyam (Article) (111 Points)
18 August 2018
prasad Nilugal
(3909 Points)
Replied 18 August 2018
RAJA P M
("Do the Right Thing...!!!")
(115729 Points)
Replied 18 August 2018
rama krishnan
(11990 Points)
Replied 18 August 2018
JAI BHOLA
(504 Points)
Replied 18 August 2018
rajesh
(manager - finance)
(23 Points)
Replied 20 August 2018
GST / Service Tax applicable on Written Off ?
Suresh Thiyagarajan
(Student)
(3981 Points)
Replied 14 October 2019
1. Loan waived off will not be taxable as a business perquisite as per the case law Rollatainers Ltd where SC has given a decision in favor of the assessee, that it will neither be taxed if the same is obtained for the purpose of acquiring a capital asset or for the purpose of business or profession.
2. Hence, unsecured loan waived off will not be treated as business receipt taxable in the hands of the company unlike remission or cessation of trading liability.
Please correct me if the above solution has an alternative view
Charlie Williams
(Financial Advisor)
(22 Points)
Replied 29 April 2021
If you study and delve into how to get a loan, and also online money borrowing will not be a problem for you at all.