Loan Waiver u/s 41(1) Income Tax Act: Clarified as Non-Taxable Capital Receipt, Not Income.

Loan Waiver u/s 41(1) Income Tax Act: Clarified as Non-Taxable Capital Receipt, Not Income. https://www.taxtmi.com/highlights?id=36784 Addition u/s.41(1) - waiver of loan as taxable u/s.41(1) - The loan received is a capital receipt and it does not lose its capital nature even when it is renounced or waived by the lender. en-us Tue, 07 Nov 2017 06:47:34 +0530 Tue, 07 Nov 2017 06:47:34 +0530 TaxTMI RSS Generator Loan Waiver u/s 41(1) Income Tax Act: Clarified as Non-Taxable Capital Receipt, Not Income. https://www.taxtmi.com/highlights?id=36784 Addition u/s.41(1) - waiver of loan as taxable u/s.41(1) - The loan received is a capital receipt and it does not lose its capital nature even when it is renounced or waived by the lender. Highlights Income Tax Tue, 07 Nov 2017 06:47:34 +0530 https://www.taxtmi.com/highlights?id=36784