Today news
About the same in other media
YOUR QUERIES: INCOME TAX: No tax benefit on loss on FD due to insolvency of finance company
Reading now: 250
By Chirag Nangia
I started fixed deposit of Rs 5 lakh in January and February 2019 with DHFL and maturity date was March and April 2020 with maturity amount Rs 5,48,990. After Piramal Finance acquired DHFL, it paid me Rs 1,23,610 on September 29, 2021. Loss on extinguishment of FDR will be a nominal loss or long term/ short term capital loss? Further, loss would be calculated from amount deposited or maturity amount? I have income from rental property and interest. Can this loss be set off against the above income?—Ashok Jain For taxation purposes, capital gain or loss arises when there is a ‘transfer’ of capital asset. ‘Transfer’ includes sale/ exchange/ relinquishment of assets or extinguishment of rights for a price. Unlike securities
Read more on financialexpress.comAbout this in other media
Home Loan: Why NBFCs or Housing Finance Companies charge higher interest rates than Banks financialexpress.com /2 years ago
Over 3 cr income tax returns for FY21 filed: FinMin financialexpress.com /2 years ago
Why some of your favorite podcasts are filled with oil company ads theguardian.com /2 years ago
Show more
The website finance-news.co is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
