Bad debts from parties
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 March 2016
Dear Sir,
Whether bad debts is allowable expenditure under income tax purpose ???
Regards,
Sachin
Whether bad debts is allowable expenditure under income tax purpose ???
Regards,
Sachin
16 March 2016
Yes, Subject to section 36(2), Bad debts are allowable under section 36(1)(vii).
Regards
Pradeep Kumar
Regards
Pradeep Kumar
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