Accounts error
ish kumar sharma (Sr. Manager Accounts & Finance) (301 Points)
17 December 2015ish kumar sharma (Sr. Manager Accounts & Finance) (301 Points)
17 December 2015
CA Vasiullah (Vasi)
(Audit Executive)
(1813 Points)
Replied 17 December 2015
Yes sure, if the debtor is still standing in the accounts then you can book it as bad debt and claim the same as expense while filing Income Tax Return.
CA Vasiullah (Vasi)
(Audit Executive)
(1813 Points)
Replied 17 December 2015
Pass the entry with the amount
Bad debts written off ( Indirect Expenditure) Dr.
To Debtors
ish kumar sharma
(Sr. Manager Accounts & Finance)
(301 Points)
Replied 17 December 2015
ish kumar sharma
(Sr. Manager Accounts & Finance)
(301 Points)
Replied 17 December 2015
I have already told that we have considered the same as income inlast year, why cant we declare them as bad debt expense.???
Abhishek Satam
(financial execetive )
(86 Points)
Replied 17 December 2015
yes you can claim it as bad debts as u have already claimed it as an income and paid tax on it
CA Jaydev Modi
(PRACTICE )
(49 Points)
Replied 17 December 2015
CA Jaydev Modi
(PRACTICE )
(49 Points)
Replied 17 December 2015
ashish
(article)
(151 Points)
Replied 17 December 2015
vinod
(Student CA Final )
(22 Points)
Replied 17 December 2015
Nishit Shah
(Student CA IPC / IPCC)
(25 Points)
Replied 17 December 2015
If you have taken income in last year you can show as bad debts, but make sure that at the time of showing bad debts in return you have to mention Pan no.....