NBFCs Can Offset Investment Losses Against Business Income Under RBI Guidelines; Aligns with Tax Regulations and Case Law.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Treatment to loss - set-off of loss - As per guidelines issued by the RBI, every NBFC is required to maintain liquid assets including investment in shares, stocks, government securities etc. and thus the assessee has made these investments in the ordinary course of its business. Therefore, loss in the said investment relates to the business - AT....