Bad debts b/f from 1/4/2020
This query is : Resolved
Quick Summary
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?
05 April 2024
Pl read as gst Proprietor ship firm
05 April 2024
Can we show part bad debts in 1year and other part bad debts in another year.please clarify,?
CA R SEETHARAMAN
(Expert)
06 April 2024
Full bad debts can be written off in one year and allowed in income tax.
06 April 2024
I have earned 14 lakhs commission.Will bad debts expenses against this commission will be allowed
06 April 2024
Pl clarify if bad debts expenses allowed against commission received in income tax
CA R SEETHARAMAN
(Expert)
06 April 2024
Bad debts expenses allowed against commission income
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