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Interest Income on the bad or doubtful debts not to be taxed on accrual of income basis - co-operative societies brought on at par with Scheduled banks and other financial institutions - Section 43D - Budget 2017-18 w.e.f. AY 2018-19

Dated:- 3-2-2017 - Clause - 018 - Amendment of section 43D. THE FINANCE BILL, 2017 Clause 18 of the Bill seeks to amend section 43D of the Income-tax Act relating to special provision in case of income of public financial institutions, public companies, etc. The said section inter alia, provides that interest income in relation to certain categories of bad or doubtful debts received by certain institutions or banks or corporations or companies, as referred to in the Explanation to the said secti .....

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