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

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....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....