Discount on Issue of Debentures:A. Is not a capital gainB. Can be written off in any yearC. Can be written off from securities premium ReserveD. Can be written off from General ReserveChoose the correct answer from the options given below:

* Discount on issue of debentures is a capital loss, hence statement A is true (it is not a capital gain).According to Section 52(2) of the Companies Act, 2013, Securities Premium Reserve can be utilized for writing off the expenses of, or the commission paid or discount allowed on any issue of shares or debentures of the company. Thus, C is correct.It is mandatory to write it off as per guidelines, not arbitrarily in "any year" without rules.Thus, statements A and C are the most accurate structural choices.