Please tell me where it is written that bad debts written off should not be debited to P/L but to be shown by way of provision in RBI Guidelines and Banking Regulation Act
Menu
Bad Debts written off
Replies (5)
Amazing Brother, u urself are mentioning the source and asking others about it..
Please clarify what u want to ask??
u r asking the question the question or ................
Lol..
Writting off Bad Debts for a business other than those goverened by RBI is covered by 36(1)(vii) where in once the bad debt is written off in the books, it is suffcient to prove that the debts are bad refer "CIT Vs. Hotel Ambassador (2002) 253 ITR 430 (Ker)."
Thanx for the info SHASHANK....
Recent Threads
- Penalty are applicable on short payment of GST
- Closing Stock111
- INVOCIE GENERATED FROM ONE COMPANY AND EWAY BILL G
- Ineligible itc under section 16(4) & itc restr
- Itc on when mixed sales percent in hospitality
- Apply for GST registration while working in MNC
- Deferment period for Advance Tax under Section 234
- Permanant transfer of duty free goods by Advance A
- 1% TDS Deduction on Property purchase through inst
- Tax on leave encashment on retirement
Related Threads
CAclubindia
