Easy Office
LCI Learning

write off of debts by debtor

This query is : Resolved 
Profile Image

Profile Image

(Querist)
21 February 2010 Sir,

Can a debtor write off his debts if his financial condition is not good?
Profile Image

shrikant

Profile Image

shrikant (Expert)
21 February 2010 Dear Mayur

The clear cut answer is no. The debtors only write off when your clients have definite conclusive proof of bad debts for example liquidation of company, liquidation of firm, attachment of business by bank or government authority etc.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro
Live Budget News and Updates

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links