Bad debts

This query is : Resolved 

12 September 2015 Please help me to w/off Bad debts minimum how many years old.

13 September 2015 Income Tax Act does not provide any time limit. The moment it is written off as irrecoverable, it is allowed as deduction- off course subject to certain conditions- but there is no time limit prescribed.

13 September 2015 time limit for claiming bad debts as loss is 3 years. u hv to wait for 3 years for claiming it as loss. afterward u can claim as loss.




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