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Bad debts b/f from 1/4/2020

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(Querist)
05 April 2024 My Gst Proprietor ship firm have debts due from a debtor since 1/4/2020 of RS 1266000/ .Now party is not giving dues.can I show in bad debts of amount of Rs1266000/ in fy 2023 -2024.Should I show full amount or part amount.Is this bad debts allowed as expenses in income tax ? Please clarify?
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ARUN GUPTA

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ARUN GUPTA (Querist)
05 April 2024 Pl read as gst Proprietor ship firm
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ARUN GUPTA

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ARUN GUPTA (Querist)
05 April 2024 Can we show part bad debts in 1year and other part bad debts in another year.please clarify,?



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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
06 April 2024 Full bad debts can be written off in one year and allowed in income tax.
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ARUN GUPTA

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ARUN GUPTA (Querist)
06 April 2024 I have earned 14 lakhs commission.Will bad debts expenses against this commission will be allowed
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ARUN GUPTA

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ARUN GUPTA (Querist)
06 April 2024 Pl clarify if bad debts expenses allowed against commission received in income tax
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
06 April 2024 Bad debts expenses allowed against commission income

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