Creditor written back
This query is : Resolved
12 August 2008
Dear Member,
In case of one a company which has transferred its business to an another concern last year, had written off nearly 32 lacs of creditors in the current year.
I would like to know what would be its treatment as per Accounting Standands issued by ICAI.
Do company can write off its creditor or take any remedial action of Following back with the creditor regarding their payment due.
In case of one a company which has transferred its business to an another concern last year, had written off nearly 32 lacs of creditors in the current year.
I would like to know what would be its treatment as per Accounting Standands issued by ICAI.
Do company can write off its creditor or take any remedial action of Following back with the creditor regarding their payment due.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CLOSING STOCK QUERY
- Taxation on Old jewellery sold
- ITR-Capital Gain
- Query regarding TDS on EPFO Higher Pension Arrears- under wrong section
- Reporting in TDS return
- Error in uploading Form 10BD
- Query regarding reporting of exempt foreign remuneration in ITR
- F&O reporting in ITR
- TDS on rent received on hardship compensation being rent on redevelopment of building
- NRI INSURANCE ADVISOR
- DUE DATE FOR ITR FILING
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
