LIABILTY WRITTEN OFF
This query is : Resolved
CA. Jyoti Baid
(Querist)
14 September 2009
Hello,
Is there any provision regarding the time period after which government liabilty can be written off from the balance sheet of the company.
An advocate told that it cannot be written off before 12 years.Is it correct.
Please help.
Regards,
Jyoti
Is there any provision regarding the time period after which government liabilty can be written off from the balance sheet of the company.
An advocate told that it cannot be written off before 12 years.Is it correct.
Please help.
Regards,
Jyoti
CA. Jyoti Baid
(Querist)
20 September 2009
Telephone expenses payable to BSNL.
22 September 2009
As per Rule When you made any provision, that is payable to next year, it is not paid in next year it must be write off in next year. When statutory auditor check your account he must check this area and write off such expenses.
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