Dear All
i came across a situation where directors waived thier loan given to the company through banking channels. what are the implications in accounts and taxation?
whether the waiver amount will be treated as income or it goes to revenue reserves?
Regards
Check out the attachment
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
