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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