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What is time limit

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Querist : Anonymous (Querist)
26 April 2015 what is time limit for write of debtors and creditors as per income tax or any other law if not recoverable or not payable.
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
27 April 2015 generally tax department uses 3 years limitation. but it is not a hard and fast rule. You can demonstrate why any item should not be written off specially in case of creditors.

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