Sir,
in books of account Dr. Balance of two debtors Rs. 14550/- its pending from years Can we show Under PNL a count bed debtors or adjust with Capital account.
please advise
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Bed debtos Balance in books
Replies (10)
you need to transfer the bad debts to the P&L account.
Yes I agreed with Mr Nikhil Kaushik Sir reply...
@ Mr Sandeep Jain,
You account/(transfer) the long pending amount in PandL account as Bad debts.
@ Mr Sandeep Jain,
You account/(transfer) the long pending amount in PandL account as Bad debts.
No first step provision , then write off
Provisions...???!!!!!
What You mean @ Sabyasachi Mukherjee Sirrrrrrrrr...???????????????
What You mean @ Sabyasachi Mukherjee Sirrrrrrrrr...???????????????
Mr.Mukherjee.
provison. What Provision
provison. What Provision
Learn from book
Raja Sir, & Nikhil Sir
if i show under PNL Account so can be face any query Notice from IT department in future.
if i show under PNL Account so can be face any query Notice from IT department in future.
See, There is no query on write off. But you need to establish that it is a bad debt. If the amounts are large and your case is picked for assessment, AO may want to see the evidence for efforts made to recover the money.
Now, in your case, amounts are small, so I do not expect an AO to focus on it.
Thank you very much Nikhil Sir,
Yes , I agreed with Mr Nikhil Kaushik Sir view...
And,
Note the points also, In case You received the amount in future then it will be account as Your income...
So, before account the bad debts ask again to the customer for payment.
And,
Note the points also, In case You received the amount in future then it will be account as Your income...
So, before account the bad debts ask again to the customer for payment.
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