BAD DEBT CLAIM
This query is : Resolved
19 November 2010
CAN A SECURITY DEPOSIT GIVEN AT THE TIME OF ACQUIRING CONTRACT BE CLAIMED AS BAD DEBT IF THAT DEPOSIT IS IRRECOVERABLE AFTER A LONG SPAN OF TIME.IF YES PLS GIVE ANY CASE LAW IN THE FAVOUR OF SAME
THANKS IN ADVANCE
THANKS IN ADVANCE
19 November 2010
EMd ( earnest money deposit ) is given to get a contract. If it has been forfeited, due to as per term of contract, you cannot claim bad debts benefit.
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