hi,
What is the treatment to be done where there is an outstanding debit balance of a ledger which is in the nature of Advance given to a person and which is due from a long time. What is the entry to be passed to remove that debit balance and what would be its impact on Profits of the company. and which sections of IT Act would be applicable.
Plzz clarify.

hi,
What is the treatment to be done where there is an outstanding debit balance of a ledger which is in the nature of Advance given to a person and which is due from a long time. What is the entry to be passed to remove that debit balance and what would be its impact on Profits of the company. and which sections of IT Act would be applicable.
Plzz clarify.

hi,
What is the treatment to be done where there is an outstanding debit balance of a ledger which is in the nature of Advance given to a person and which is due from a long time. What is the entry to be passed to remove that debit balance and what would be its impact on Profits of the company. and which sections of IT Act would be applicable.
Plzz clarify.

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