23 March 2010
I have sold some computers worth 80000/- to a party in 2006. He is not paying that amount. balance is standing my books. Now I don't expect the recovery of that amount. So this will be my expenses or what. How can i adjust that account.
23 March 2010
Hi, if the recovery is not expected then it can be written off as bad debts (AS 9). Don,t forget to write it off if you want to claim deduction for the same under I T Act. Regards, CA Shakuntala Chhangani
CAclubindia
