One Time Settlement of Loan & Waiver of Loan
This query is : Resolved
17 September 2023
Last year have outstanding Loan of Rs.15,00,000/- In one time settlement my 4,00,000/- loan was waived off I have taken 11,00,000/- loan from another bank and cleared the Loan. How to show 4,00,000/- loan waived off should be treated as profit or added to my capital account. Please clarify. Thanks in advance
18 September 2023
Treat it as other income.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- What is process for activation of bank account freeze due to non filling of return ?
- What is income from business controlled from India?
- TDS on Indian ADS dividend
- GST REFUND ON EXPORT EXPENSES OF EXEMPTED GOODS
- TDR receipts for agreement holder
- REGARDING CLAIMING OF ITC CREDIT IN NEXT FINANCIAL YEAR
- 54 f disallowance
- Container washing charges
- TDS NOT REFLECT IN ITD
- Form35 filing
- Advance received for sale of land in previous financial year, but land sale after financial year end
- GST practitioner exam and income tax practitioner exam
- GSTR9 LIABILITY
- GSTR9C Turnover 1
- ITC - in 3b
- MIS MATCH OF INVOICE NUMBER
- Query for dubts
- CASE INTIMATION OF LIABILITY UNDER SECTION 73(5)(Rule 142(1A)
- Need to correct "Whether it is last installment " response in Form 26 QB
- GST ASMT-10 time extension query
Trending Online Classes
-
6 days Certification Course on GST Practical Return Filing Process
CA Pratibha Goyal16 December 2024
CAclubindia
