Staff loan written off
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 February 2013
Hi,
A client has written off a loan given to staff as "Sundry Balance Written off" 2 years after the staff left the service.
AO says not allowable as sundry balance written off.
Any case laws on the same to claim the same as business expenditure.
Thanks in advance
A client has written off a loan given to staff as "Sundry Balance Written off" 2 years after the staff left the service.
AO says not allowable as sundry balance written off.
Any case laws on the same to claim the same as business expenditure.
Thanks in advance
CMA Ramesh Krishnan
(Expert)
29 August 2013
Bad debt not related to business will not be allowed
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