Disallowance of bad debts - sales tax component included in the ...

Income Tax

May 9, 2019

Disallowance of bad debts - sales tax component included in the sundry debtors - If the assessee had made the payment of sales tax then the debtor of the assessee has to pay back the said amount and therefore it will assume the character of a debt - If ultimately the customer does not pay this amount to the assessee, it has to be regarded as bad debt written off and allowed as deduction u/s 36(1)(vii)

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Disallowance of bad debts - sales tax component included in the ...

Income Tax

May 9, 2019

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