Poonawalla fincorps
Poonawalla fincorps

Treatment of loss on life insurance policy

This query is : Resolved 
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(Querist)
18 March 2014 Where to charge loss on surrender of life insurance policy? to capital A/c or to p&l A/c?
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
18 March 2014 It will be charged to capital account since it is NOT allowed as deduction from business income.

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