An write off allowable or not under income tax act
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 June 2013
There is a trader gave a Security deposit To the Co. for Dealership after sometime co. went bankrupt and the sec deposit became unrealizable, can that be Written off in my books
Plz Reply it's Urgent
Plz Reply it's Urgent
CMA Ramesh Krishnan
(Expert)
18 June 2013
Yes. allowable since it is business purpose only
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