Bed dedts
This query is : Resolved
Jiwan singh
(Querist)
11 August 2012
DEAR SIRS
WHAT IS THE LEGAL PROCEDURE TO TRANSFER DEBTORS TI BAD DEBTS
THANKS
REGARDS
JIWAN SINGH
WHAT IS THE LEGAL PROCEDURE TO TRANSFER DEBTORS TI BAD DEBTS
THANKS
REGARDS
JIWAN SINGH
CA Prashant Gupta
(Expert)
12 August 2012
There is no legal procedure for transfer of debtors to bad debts. If company has reasonable assurance that debts is irrecovable you can considered it as debt debts. you can maintain the legal notice sent to debtors as proof/vouchers.
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