Accounting treatment of write off sundry debtors
This query is : Resolved
03 November 2024
what would be the journal entry of sundry debtors write off.
and what would be impact on tax purpose.
and what would be impact on tax purpose.
03 November 2024
Debit: Bad Debts Expense (or Loss on Bad Debts) | [Amount]
To Sundry Debtors (or Accounts Receivable) | [Amount]
Bad debts, if irrecoverable, are allowed as an expense under Section 36(1)(vii) of the Income Tax Act.
To Sundry Debtors (or Accounts Receivable) | [Amount]
Bad debts, if irrecoverable, are allowed as an expense under Section 36(1)(vii) of the Income Tax Act.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- TAN for Partnership
- Treatment of Pension ?annuity returns on PMVY
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- GST ON DAMAGED GOODS
- Free lancer income
- STCG FOR GOLD ETFs
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
