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Impairment of Shares-Tax deductible?
07-08-2011, 10:01 PM
Post: #1
Impairment of Shares-Tax deductible?
Gain on the impairment is charged under the haed of Capital Gain.

Is the impairment of invesment-qouted+unqouted is deductible expenses from business income???

Kindle reply with reference

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07-09-2011, 05:50 AM
Post: #2
 
Tax authorities don't believe on impairment on quoted or unquoted shares. Only realized losses are admissable as capital loss not as business loss.

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