Time barred
This query is : Resolved
20 December 2015
what is the tax implication when a loan becomes time barred?
20 December 2015
time barred loan.
For Lender : Bad debt if it has really turned bad
For Borrower : Can be capitalised.
For Lender : Bad debt if it has really turned bad
For Borrower : Can be capitalised.
20 December 2015
what entry will be passed and its tax implications?
20 December 2015
for borrower
20 December 2015
It is a capital receipt and hence income tax exempt.
Loan account debit.
Capital Account credit.
Loan account debit.
Capital Account credit.
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
- PAN Migration to New AO
- How to open attachment in 23ac xbrl
- Validity of Transfer Pricing Notice u/s 92CA(2)
- Input Tax Credit Puf panels
- Gifts in cash
- Excess TDS Paid - Form 26QC
- Capital gains LTCG
- Tds rate on loan given to a firm from personal file
- Unable to convert User role from Registered user to Business user on MCA V3 portal
- Stock statement procedure bank od loan monthly report
- TDS u/s 194-IA on the Home Loan Disbursement Amount
- Clarification on Notification No. 40/2017-Central Tax (Rate)
- Form 26QB - Details to filled
- REGARDING GST AMNESTY SCHEME
- Difference in taxation of company leased car
- Real Estate Transaction Structuring with Power of attorney & Beneficial Ownership
- ITC available on QIP Expenses
- EBRC Generation
- AS-16 Treatment of Borrowing cost for land and building
- HSN Wise Summary Reporting in GSTR-1
Trending Online Classes
-
Certification Course on GSTR-3B Reconciliation with GSTR-2B through Chat GPT
CA Deepak Gupta26 April 2025
CAclubindia
