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

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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