Bad debts
This query is : Resolved
22 September 2018
Dear Sir,
I would like ask question regarding Bad debts, Debtors are outstanding from last 3 year can we transfer to Bad Debts in Profit & loss A/c. We are sure that this amount will not come in future. So please give me advise and compliances in Income tax.
Thanks & Regards
Vicky Narad
9271388736
I would like ask question regarding Bad debts, Debtors are outstanding from last 3 year can we transfer to Bad Debts in Profit & loss A/c. We are sure that this amount will not come in future. So please give me advise and compliances in Income tax.
Thanks & Regards
Vicky Narad
9271388736
22 September 2018
Then write it off and claim as business expenditure for income tax purposes.
23 September 2018
@ Mr B Chackrapani Warrier Sir.,
I have one more doubt about the said query...
When we write off the non-receipt of Payments from Debtors...?
Any time limit to transfer PandL account as Bad debts...?
Please give Your solution...
23 September 2018
Please see section 36(2)(2) and CBDT Circular 12/2016 dated 30-05-2016.
Message likes :
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23 September 2018
Thank You for the reply Mr B Chackrapani warrier Ji...
Also thanks for the reference, I'll go to see the referred notification...
Thank You once Again...
Also thanks for the reference, I'll go to see the referred notification...
Thank You once Again...
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