Dear
Can i know the Law As per companies act, with regard to bad debts,
Because i want to need some huge amount should be accounted as bad debts,
Kindly help in this regard
Sakthivel
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Bad debts
Replies (1)
I dont think there is any provision in Companies Act regarding Bad Debts.
There is provision for "Personal Expenditure debited to P&L".
If the Bad debts is geniune, there may not be any problems.
But there are some provisions in Income Tax Act.
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