Waiver of loan amount - when a portion of the loan is waived, ...

Loan Waiver Reduces Liabilities, Boosts Capital Reserves; Recorded as Capital Receipt in Profit & Loss Account.

April 26, 2016

Case Laws Income Tax HC

Waiver of loan amount - when a portion of the loan is waived, the total amount of loan shown on the liabilities side of the balance sheet is reduced and the amount shown as Capital Reserves, is increased to the extent of waiver - amount representing the waived portion of the loan is shown as a capital receipt in the profit and loss account itself - HC

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Waiver of loan amount - when a portion of the loan is waived, ...

Loan Waiver Reduces Liabilities, Boosts Capital Reserves; Recorded as Capital Receipt in Profit & Loss Account.

April 26, 2016

Case Laws Income Tax HC

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