Settlement of unrecovered advance from employees
This query is : Resolved
01 April 2024
Dear All
Can we settle or treat 'unrecovered old advance from employees' as a normal revenue expenses ?
Income tax act will allow this type of expenses for tax computation or not ?
Regards
S Mallick
Can we settle or treat 'unrecovered old advance from employees' as a normal revenue expenses ?
Income tax act will allow this type of expenses for tax computation or not ?
Regards
S Mallick
CA R SEETHARAMAN
(Expert)
02 April 2024
Yes, it's allowed as normal revenue expenses under income tax.
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