bad debt
Kajal Khetwani (236 Points)
02 June 2017it claimed bad debt by writing off in books
aggregate sales were 30lakhs
amt eligible for deduction?
Kajal Khetwani (236 Points)
02 June 2017
Ashish Gangawani
(Chartered Accountant)
(88 Points)
Replied 02 June 2017
Ashish Gangawani
(Chartered Accountant)
(88 Points)
Replied 02 June 2017
Ashish Gangawani
(Chartered Accountant)
(88 Points)
Replied 02 June 2017
Kajal Khetwani
(236 Points)
Replied 02 June 2017
Ashish Gangawani
(Chartered Accountant)
(88 Points)
Replied 02 June 2017
Sagar Devani
(Corporate and International Taxation)
(1174 Points)
Replied 02 June 2017
If nothing is mentioned in the question then its to be assumed that the amount of Rs.5,00,000 is included in the Turnover and tax is paid on the same. Now when the company is writtting off Rs.5,00,000 the entire amount will be eligible for deduction as the company has already paid tax on the same.