Cash loans debtor and creditor balance written off any time limit applicable
This query is : Resolved
Kollipara Sundaraiah
(Querist)
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.
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.
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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