Provision For Bad & Doubtfull debts
This query is : Resolved
CA. Bharat Tak
(Querist)
02 July 2010
Whether a Company can directly write off Bad Debts without creating Provision For Bad & Doubtfull debts??
Rahul Gupta
(Expert)
02 July 2010
Yes. It can be done if the bad debts are certain and are occured
CA. Bharat Tak
(Querist)
02 July 2010
Thnk you sir for your guidance
CA.Tarun Maheshwari
(Expert)
02 July 2010
Yes. If it is sure from records available and correspondance with party. pls ensure that bad debts are substantiated with all legal formalities also with the party. It will be better proof.
CA Sanat Pyne
(Expert)
02 July 2010
AGREED WITH EXPERTS.
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