Definition of Debit

An accounting entry that either increases one’s assets or decreases one’s liabilities, is known as debit. The left side of an account is known as debit side.

Author: Vikas Yadav

Vikas Yadav founded MonetarySection.com in 2014 and is responsible for everything published on it. He holds an MBA from NCU (formerly ITM), Gurugram, and writes about accounting, payroll and personal finance for Indian readers. Facts and figures are checked against official sources such as the Income Tax Department, RBI and IRDAI.

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