Bed debts
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 September 2014
Sir When Income tax is allowed to writte of debtors
09 September 2014
There is no time period mentioned in the Income Tax Act.
Only two conditions are to be satisfied:
1. The bad debt should be written off in the name of the debtor.
2. The amount which is claimed as bad debt should have been treated as income in any previous year.
Only two conditions are to be satisfied:
1. The bad debt should be written off in the name of the debtor.
2. The amount which is claimed as bad debt should have been treated as income in any previous year.
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