Bad debts
This query is : Resolved
17 October 2012
Dear Sir,
I have bad debts of Rs. 1200000/- I want to know that how much amount of bad debts i can write off in this year as per co. act.
Can i write off the whole amount of b/debts in this financial year ?
Thanks
I have bad debts of Rs. 1200000/- I want to know that how much amount of bad debts i can write off in this year as per co. act.
Can i write off the whole amount of b/debts in this financial year ?
Thanks
17 October 2012
You can write off the whole amount. There is no restriction under Companies Act on writing off bad debts.
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