Creditor not paid
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 June 2012
If any creditors for expenses or goods not paid more than 3years then what is accounting treatment ? should it be taken as income ?
CA PARAS BAFNA
(Expert)
20 June 2012
In case expenditure has been claimed in the earlier years, income has to be shown in the year in which such Creditors are being written off.
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