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Written off bad debts

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26 November 2014 Assessee intends the write off the bad debts before period of 3 years ,please advise

26 November 2014 The bad debts can be written off at the time when according to management it has turned BAD. 3 years is normally reckoned as period of limitation as per Banking norms. But Accountancy stipulates to write off the bad debt as and when it becomes BAD.

26 November 2014 there is no restiction but should be able to prove that debts have become bad.






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