Provision For Bad Debts

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Dear Sir Please Ask Provision for Bad Debts is Allowed expense in Income tax View ?/ - Reply By Ganeshan Kalyani - The Reply = In my view it is an eligible for deduction under Income Tax. However I .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... welcome views of Experts to share their views as well. Thanks. - Reply By MARIAPPAN GOVINDARAJAN - The Reply = Provision for bad debt is allowed as an expenditure. - Reply By KASTURI SETHI - The .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Reply = Thanks to both experts Sh.Ganeshan Kalyani, Sir and Sh.MARIAPPAN GOVINDARAJAN, Sir as I am gaining knowledge about Income Tax, Balance Sheets and accounting treatment through this forum. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... - Reply By Mahir S - The Reply = Sir, I am of the view that such amount is allowed as expense BUT with a debit to the bad debt expense account (which appears in the income statement) and a credit to .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... the provision for doubtful debts account (which appears in the balance sheet). - Provision For Bad Debts - Query Started By: - mayank shah Dated:- 16-2-2016 Income Tax - Got 4 Replies - Income Tax .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X