Adjustment to tax Section 8(1)(e)

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..... as bad debt, the dealer shall make such adjustment to the extent of the tax on the price written off as bad debt provided such price has been written off in his books of accounts and the price so written off has also been claimed by the dealer as deduction under section 36 of the Income Tax Act 1961 (43 of 1961) Provided that where the price so written off relates to the sale of goods ta .....

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..... dealer shall make an adjustment in calculating the tax payable for the same tax period by allocating the recovered amount to the amounts stated above in the reverse order. ---------------------------------------- Notes:- 1. Substituted vide Notification No.F.3(23)/Fin(Rev-I)/2011-12/DSIII/68, dated 27.01.2012, w.e.f. 27.01.2012. before it was read as:- 4 percent .....

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