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More than 3 year old unclaimed balances ex employees

This query is : Resolved 
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(Querist)
13 November 2013 hi we are having more than 3 year old unclaimed balances in employee accounts in our company whiche were never claimed by the ex employees post their exit from the company

can u suggest treatment for the same

regards
nirpinder
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CA Parul Saxena

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CA Parul Saxena (Expert)
13 November 2013 In my opinion you should retain this balance as it is for 2 years more if even then it remains unclaimed then this amount would be treated as expenditure written back and tax to be paid on the same amount as it would be your income then.
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