Provision for claiming bad debts in itr

Jyothis (Article) (1127 Points)

08 July 2016  

1.What are the provisions applicable for claiming bad debts on Debtors not realizable now,against which sale is booked during previous years.

2.In last year ITR , all debtors were classified as Other (i.e  not outstanding for more than one year)

3.During current year around 10% of current year Turnover is bad debts relating to sales booked during previous years.