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Treatment of waiver of loan by bank, Income Tax

Issue Id: - 116790
Dated: 14-10-2020
By:- Rakesh Bansal
Treatment of waiver of loan by bank

  • Contents

What should be the treatment of waiver principal and interest of term loan sought by charitable society(registered under section 12A) , keeping in view the provision of section 11(1) of the Income Tax Act, 1961.

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