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Write off of loan & advances

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(Querist)
22 July 2013 Dear sir,

My Client has write off loans and advances, so i need your guidance on this, allow-ability as per Income Tax Act.
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CA UMESH DULAL

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CA UMESH DULAL (Expert)
22 July 2013 bad debt write off during the year is allowed as deduction.
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Lalit

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Lalit (Querist)
22 July 2013 Sir, loan and advance are written off not debtors.




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