What is time limit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 April 2015
what is time limit for write of debtors and creditors as per income tax or any other law if not recoverable or not payable.
Nikhil Kaushik
(Expert)
27 April 2015
generally tax department uses 3 years limitation. but it is not a hard and fast rule. You can demonstrate why any item should not be written off specially in case of creditors.
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