Debtor

Tax Glossary Definition

Debtor

Debtor – A debtor is a person or entity that owes money to another, usually due to borrowing funds, purchasing goods, or receiving services on credit. The amount owed is a liability for the debtor and an account receivable for the creditor.

Example: If a customer buys goods worth ₹50,000 on credit from a supplier, the customer is the debtor and the supplier is the creditor.

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