Account in which amount not recoverable is to be written off
This query is : Resolved
30 May 2019
One of my client has few NBFC's from whom unsecured loans had been taken. All the EMI has been paid and on interest the TDS had been deducted in f.y. 2016-17. Since the company was facing financial crisis, the said TDS deducted was not deposited in Government. But in current year the same has been deposited. But now since the assessment of NBFC's must have already been completed, so even though we had issued the TDS Department, they denied to repay us the TDS amount deposited with Government. So, I am now suppose to write off the amount showing as receivable from NBFC's. So please guide as to this amount can be written off against which account.
Thanking you in advance.
Thanking you in advance.
06 June 2019
open the account in the name of "amount irrecoverable from xxxx nbfc" and transfer this account to P & L
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