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Is bad debts allowable in income tax

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Ankush

Ankush (s) (33 Points)
Replied 06 August 2014

Simply change your ca



(Guest)
ALLOWABLE ONLY IF BAD DEBT W/O AND DEBT EARLIER RECOGNISED AS INCOME...AND IF BOTH OF THE ABOVE CONDITION SATISFIED THEN ALLOWABLE AS PER SEC 36(1)(Vii).

CA. Kuldeep Singhi

CA. Kuldeep Singhi (Entrepreneur) (424 Points)
Replied 07 August 2014

Prov. for bad debts not allowable but actual debts written off is allowable So ur CA may be telling about prov for bad debts


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