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Tax treatment under income tax

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Querist : Anonymous

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Querist : Anonymous (Querist)
04 June 2017 what will be the tax treatment of write of debtors and creditors under income tax. and also please mention relevant section for tax treatment.
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KAVIRAJA ADDANGADI

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KAVIRAJA ADDANGADI (Expert)
04 June 2017 Write off credits amount to Income, while write off Debtors amounts to Bad debts can be written off as expenses.
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
04 June 2017 Debtors written off will either be bad debts or discount allowed depends on its nature. Writing off creditor is treated as discount received.
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