Taxpayers Can Deduct Bad Debts by Simply Writing Them Off in Accounts, No Proof of Irrecoverability Needed.

Taxpayers Can Deduct Bad Debts by Simply Writing Them Off in Accounts, No Proof of Irrecoverability Needed. https://www.taxtmi.com/highlights?id=55140 Deduction on account of bad debts written off - after 01.04.1989, it is not necessary for the assessee to establish that the debt, in fact, has become irrecoverable. It is enough if the bad debt is written off as irrecoverable in the accounts of the assessee. - AT en-us Tue, 13 Oct 2020 15:48:59 +0530 Tue, 13 Oct 2020 15:48:59 +0530 TaxTMI RSS Generator Taxpayers Can Deduct Bad Debts by Simply Writing Them Off in Accounts, No Proof of Irrecoverability Needed. https://www.taxtmi.com/highlights?id=55140 Deduction on account of bad debts written off - after 01.04.1989, it is not necessary for the assessee to establish that the debt, in fact, has become irrecoverable. It is enough if the bad debt is written off as irrecoverable in the accounts of the assessee. - AT Highlights Income Tax Tue, 13 Oct 2020 15:48:59 +0530 https://www.taxtmi.com/highlights?id=55140