Good Morning...
what is maximum bad Debts we can show in balance sheet in a year...
Menu
Bad Debts Provision
Replies (6)
Bad debt provisions are regulated in income tax act under the head profits and gains from business and Profession.
Whatever you want but you have essential proofs to justify the amount of bad debts
Yes there is no limit if you have valid proofs
WHAT DO YOU MEAN BY LIMITS?
Show? what does that mean? you should disclose your actual baddebts. I am not able to understand what does this question actually mean?
I think you are asking about the amount of provision for bad debts an entity can make.
There is no limit. It is just an estimate based on past data.
However, the entity cannot claim it as deductible expense under income tax.
Recent Threads
- Gift of money to my wife.
- Tax Audit If you show Loss
- GST Tax invoice Value Rs..234000
- Can I claim benefit under 54F if I sell my equity
- Income tax refund 25/26
- Who is responsible for paying GST Liability (If th
- Excess Payment on RCM
- AOC4 auto population of previous year data
- Exports against INR PO payable by Domestic Company
- Which websites are best for government exam prepar
Related Threads
CAclubindia
