Doubtful debts provision reversed in P & L
This query is : Resolved
17 November 2020
Provision was made against doubtful debtors. Subsequently payment was received from debtors. As such provision earlier made has to be written bakc. Whether such write back can be shown under the head other income.
Question: how and where the said amount to be shown in ITR 6. In the earlier year i..e.year on which provision is made disallowed in ITR. Now credit in the Profit and loss is not an income. How to present in ITR
Question: how and where the said amount to be shown in ITR 6. In the earlier year i..e.year on which provision is made disallowed in ITR. Now credit in the Profit and loss is not an income. How to present in ITR
17 November 2020
1 yes, show it under other income.
2 Reduce the amount in taxable income.
2 Reduce the amount in taxable income.
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