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Bad Debts

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29 January 2010 whats the age period after which debtors can be created.the section is also aplly to individual rite????
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Amit

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Amit (Expert)
29 January 2010 There is no restriction as to Period after which bad debt can be created.If the Money cant be received after reasonable efforts bad debts can be created. For More detail refer to Section 37(vii) of Income tax Act.

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