LIABILTY WRITTEN OFF

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CA. Jyoti Baid (Querist)
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14 September 2009 Hello,

Is there any provision regarding the time period after which government liabilty can be written off from the balance sheet of the company.

An advocate told that it cannot be written off before 12 years.Is it correct.

Please help.
Regards,
Jyoti

Prashant

Prashant (Expert)
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16 September 2009 Clear First Regarding Which Liability u r asking for??

CA. Jyoti Baid

CA. Jyoti Baid (Querist)
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20 September 2009 Telephone expenses payable to BSNL.

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Prashant

Prashant (Expert)
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22 September 2009 As per Rule When you made any provision, that is payable to next year, it is not paid in next year it must be write off in next year. When statutory auditor check your account he must check this area and write off such expenses.

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