Cash loans debtor and creditor balance written off any time limit applicable

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Kollipara Sundaraiah (Querist)
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23 December 2021 Sir,
A it person cash loans from different creditors rs:25 lacs
cash loan to different debtors rs:10 lacs outstanding ledger balance amounts previous from 2018 years show in books.if a person interest receipts and payments every year .
Question:
How many years writen-off compulsory cash loans provision applicable in it act.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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23 December 2021 Number of years not specified in act, but it can be written of with any reason after about 8 to 10 years, or at the time of closure of business.

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