Sundry Debtors
This query is : Resolved
04 July 2009
Dear experts,
Is it compulsory to write off Sundry Debtors
beyond 3 years??
If yes then under what section, please mention??
Is it compulsory to write off Sundry Debtors
beyond 3 years??
If yes then under what section, please mention??
04 July 2009
It is not compulsory to write off debit balances beyond 3 years The law of Limitation restricts recoverability beyond three years If you are confident of recovering there is no need to write off
04 July 2009
No law/act prescribes to write-off debtors beyond 3 years. However, law of limitation prescribes period of 3 years to repay the loan/ take any legal action. Logically applying this rule, it is preferred/advised to write-off the debts beyond 3 years.
04 July 2009
Agreed
04 July 2009
agreed
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- TAN for Partnership
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- STCG FOR GOLD ETFs
- Specified Profession
- Suggestions required for income tax filing-software (FY 2025-26)
- GST ON DAMAGED GOODS
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- Free lancer income
- Long Term Service award taxability in hands of company
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
