Malick & Co. engaged in trading activity could not recover ₹ 5 lakhs from a customer. It claimed the entire amount as bad debt by writing off in the books of account. The aggregate sale made during the year to the pa
CS Executive · Tax Laws and Practice · PYQS · June 2017
Malick & Co. engaged in trading activity could not recover ₹ 5 lakhs from a customer. It claimed the entire amount as bad debt by writing off in the books of account. The aggregate sale made during the year to the party amounts to ₹ 30 lakhs. The amount eligible for deduction by way of bad debt is:
Answer & Explanation:
Correct Answer: Option (C)
Official answer key: (C).
Topics: Income Tax
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