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Section 36(1)(viia) - Provision for Bad and doubtful debts for Taxation of Banks

Income Tax - Profit and Gains of Business or Profession - 40 - SEC - 36(1)(viia): PROVISION FOR BAD AND DOUBTFUL DEBTS FOR TAXATION OF BANKS Amount deductible in respect of provision for bad and doubtful debts In the case of an Indian Bank In case of .....

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his section and before deduction under chapter VI-A PLUS 10% of Aggregate Average Advances made by rural branches 5% of total income computed before deduction under this section and before deduction under chapter VI-A 5% of total income computed befo .....

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tion 36(1)(viia) provided the provision is debited to the Profit & Loss A/c. Deduction for Actual Bad debts i. No deduction is allowed under section 36(1)(vii) in respect of actual bad debts. ii. The actual bad debts should be debited to the prov .....

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