Bad debts
This query is : Resolved
Prashant atkare
(Querist)
26 December 2014
Hello sir, can anybody please tell me about bad debts claim. when should I book bad debts in my books.
thanks
CA Kumar Mukesh
(Expert)
27 December 2014
yes you can book bad debts in you books
as per section 36(1)(vii) for claiming bad debts deduction you need to be establish bad debts only showing that these balance are result from earlier income shown under PGBP and now bad debts entries are posted in debtor ledger.
as per section 36(1)(vii) for claiming bad debts deduction you need to be establish bad debts only showing that these balance are result from earlier income shown under PGBP and now bad debts entries are posted in debtor ledger.
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