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Writing off bad debts

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Student
65 Points Posted on 29 October 2019
Can bad debts be written off against a solvent debtor? The solvent debtor in this case is a sole proprietor.
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On 29 October 2019 at 16:08 Report
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Consultant & Teacher(Whatsapp 8718057907
1306 Points Posted on 31 October 2019
Yes it can be written off
5 Reply
On 31 October 2019 at 09:46
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Profession Business
28207 Points Posted on 02 November 2019
@ Kamal
if he is solvent how can u write off the same against him..
44 Reply
On 02 November 2019 at 08:19
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Student
65 Points Posted on 02 November 2019
@ sabyaschi mukherjee, sir so what are the conditions to write off a debt
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On 02 November 2019 at 08:27
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Profession Business
28207 Points Posted on 03 November 2019
Do u hv a business?
Then the relevant sections can be more explicitly explained.
44 Reply
On 03 November 2019 at 11:20
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Student
65 Points Posted on 04 November 2019
Originally posted by : sabyasachi mukherjee
Do u hv a business?Then the relevant sections can be more explicitly explained.

Yes Sir, Running a Partnership Firm have lent to a sole proprietor and the person has defaulted and is in a situation where he cannot pay this debt (but he is not insolvent), so what is the procedure in writing off this debt in my books 

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On 04 November 2019 at 09:47
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student
70 Points Posted on 05 November 2019
There is no specific conditions for writing off debt. We can write of debt if amount is not recoverable. As per income tax, if amount is received from debtor after writing off the debt, the amount received will be treated income
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On 05 November 2019 at 14:25


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