Bed Debts w/off
This query is : Resolved
MANOJ CHOUDHARY
(Querist)
14 April 2009
Dear Experts
Is it required for bed debts w/off more then 3 year old
Dear Experts
Is it required for bed debts w/off more then 3 year old
Manmohan ACA, CS
(Expert)
14 April 2009
Not at all,
CA Nitin Wadhwani
(Expert)
14 April 2009
No.
Its not required.
But you cannot claim a debt as receivable if its outstanding for more than 3 years unless othwerise agreed in writing.
That's why we make it a point better to write it off.
Its not required.
But you cannot claim a debt as receivable if its outstanding for more than 3 years unless othwerise agreed in writing.
That's why we make it a point better to write it off.
21 April 2009
In case any debt is not recoverable then it can be w/off at any time as a bad debt.
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