Over due creditor w/off
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 February 2012
If company w/off over due creditors as show income, profit will increase to the extent, it means company will facing over burden of taxes, co. want without facing over burden of taxes what is the way to w/off these creditors amounting Rs. 60 lacs
If company w/off over due creditors as show income, profit will increase to the extent, it means company will facing over burden of taxes, co. want without facing over burden of taxes what is the way to w/off these creditors amounting Rs. 60 lacs
Guest
Guest
(Expert)
22 February 2012
There is no way as such. Writing off creditors implies reduction of purchases which will have direct impact on profit
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