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
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Bad Debts written off
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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....
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