hello
I have this query from a NBFC perspective
when we receive a repayment from the account which is already written off (D6+ for example as per our company policy)
and because of the repayment, actually his bucket can be D0, can this case be reinstated?
or
do we need to continue as recovery from written off assets?
please help
thanks
Menu
Recovery from written off assets
Replies (1)
Do not automatically reinstate the account or move it to a D0 bucket. The repayment must be accounted for as "Recovery from Written-Off Assets" (credited to the P&L account). Reinstating a written-off asset back into active books is non-standard and should only be done if backed by a formal board-approved restructuring policy or loan re-activation framework.
Recent Topics :
- Foreign remittance
- Affordable Residential Flats in Gurgaon
- Manufacturing
- TAN REGISTRATION ON E-FILLING SITE
- Form 10-IEA – Continuing Old Regime
- Income tax act 2026
- Belated Return where Form 10IEA filed this year to
- GST Reconciliation Tool (2A vs Books) - looking fo
- TDS ON PF FORM 19 WITHDRAWAL
- Can a virtual office in Mumbai be used for company
Related Topics :
CAclubindia
