3 Replies
sivaram
(Asst Mgr-Taxation)
(6918 Points)
Replied 10 February 2011
Based on Debtors Ageing the Process done is Debtors classified into three categories Good Debtors,Bad Debtors and Doubtful Debtors.
Check how Provisioning is made as per Policy on Doubtful and Bad Debtors
Check Legal Cases for which Sec138 of Negotiable Instrument Act is envoked
Let experts throw more points on this
sivaram
(Asst Mgr-Taxation)
(6918 Points)
Replied 10 February 2011
As far as creditors ageing check whether payments are made as per outstandings and if there are any credit balances of more than 180 days can it be taken to Income etc
CA Shraddha Bankar
(CA)
(175 Points)
Replied 10 February 2011
u can take the ageing in following range of days
0-180
181-365
366-730
731-1095
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