Doubtful debts provision reversed in P & L
This query is : Resolved
17 November 2020
Provision was made against doubtful debtors. Subsequently payment was received from debtors. As such provision earlier made has to be written bakc. Whether such write back can be shown under the head other income.
Question: how and where the said amount to be shown in ITR 6. In the earlier year i..e.year on which provision is made disallowed in ITR. Now credit in the Profit and loss is not an income. How to present in ITR
Question: how and where the said amount to be shown in ITR 6. In the earlier year i..e.year on which provision is made disallowed in ITR. Now credit in the Profit and loss is not an income. How to present in ITR
17 November 2020
1 yes, show it under other income.
2 Reduce the amount in taxable income.
2 Reduce the amount in taxable income.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS DEMAND.
- 139(4) for ITR-5- audit
- Joint Account Closure
- TDS-Fixed assets
- RCM PAID ON RENT IN RESTAURANT BUSINESS @ GST RATE 5%
- Registartion of trust
- TDS can We Adjust 194C Amount to 194J
- Reversal of unutilized ITC can be paid through ITC
- Mentioned xyz as employer name instead of xyz LLC in ITR
- Regarding Claim of ITC of FY 2020-21
- Ammended B2B invoice not displayed in GST2B
- GST Portal Log In
- TDS OR GST APPLICABLITY
- FORM SPL-02
- Complication in generating GSTR-2B
- Assesee supply services in RCM, above 2 crores turnover, is he applicable to file Gstr9
- Sale of liquidated company
- How to calculate tax as Income & Tax Calculator on e-Filing website is giving wrong results.
- Updation of UDIN for ROC forms AOC-4 and MGT-7
- Invoices not transmitted to ICEGATE because of non-authentication of Aadhaar
Trending Online Classes
-
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Industry Expert14 February 2025 -
Survey, Search and Seizure under Income Tax Act 1961
CA Hari Agarwal
CAclubindia
