arti mehta (Article) (70 Points)
21 April 2011What is the treatment in following case?
There is a holding of Preference Shares in City Realcom Ltd. worth approx.Rs.11,00,000/- in 2008. There was a Receipt of regular dividend.The redemption year is 2013. However the company is under Dispute in court of law and it known that the principal amount is irrecoverable.how is this treated as per Income Tax?Can the entire amount be written off in a particular financial year.what is the treatment?The assessee is an Individual..
CA Vishwas Aradhya
(Consultant)
(60 Points)
Replied 21 April 2011
arti mehta
(Article)
(70 Points)
Replied 23 April 2011
Dear Sir Vishwas,
So the Capital portion cannot be claimed in any way?how is it written off??
CAclubindia
