05 July 2012
The Company is involved in Textile business. it has an activity of booking F&O Contracts.. Should the loss from the same be booked as expense in P&L or it should be carried forward to set off?
06 July 2012
Any realised loss or MTM Loss has to be accounted in the books and is not allowed to be carried forward as an off balance sheet items per notification issues by ICAI.
CAclubindia
