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Amount write off

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(Querist)
23 April 2014 Hello there,
My query is, is there any limit to write off the balance. in my company's p&l a/c in indirect income, amount written off is seen negative. what does it mean? is it acceptable in audit?
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CA Devanand Jethanandani

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CA Devanand Jethanandani (Expert)
24 April 2014 Hi Adi,

As such there is no limit to write off balance, but it should be justifiable.


Write off A/c. can have either debit or credit balance.


Regards,
Devanand

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