Accrual of interest on NPA - Scheduled Bank - Once the loans had ...

Interest on NPAs Recognized Upon Recovery: Section 43D Validates Deferred Accrual for Scheduled Banks.

August 17, 2013

Case Laws Income Tax AT

Accrual of interest on NPA - Scheduled Bank - Once the loans had become NPAs and the assessee had opted to account for the interest on such NPAs only on recovery of the same, the law recognizes such treatment of interest on NPAs as valid in view of the provisions of section 43D of the Act - AT

View Source

← Previous Next →

Accrual of interest on NPA - Scheduled Bank - Once the loans had ...

Interest on NPAs Recognized Upon Recovery: Section 43D Validates Deferred Accrual for Scheduled Banks.

August 17, 2013

Case Laws Income Tax AT

You may also like:

De-recognized interest on accrual basis on Non-Performing assets (NPA) - interest income from NPAs should be recognised only on actual receipt. - AT

The Reserve Bank of India (RBI) issued Circular, addressing Scheduled Commercial Banks, Primary (Urban) Cooperative Banks, State Cooperative Banks, and Exim Bank...

The ITAT ruled that interest accrued on Non-Performing Assets (NPAs) cannot be added to taxable income when not credited to the Profit and Loss account. The Tribunal...

Interest paid to bank disallowed – Applicability of section 43B - merger of non-scheduled bank with scheduled bank - e provisions of section 43B clearly apply after the merger - AT

Interest accrued on non performing assets - Applicability of sec 43D - It serves no purpose that the assessee, which is a non-scheduled bank, should include the...

Gross NPAs of Public Sector Banks Stood at Rs.71,047 Crore as on 31st March,2011.

Section 43D is a non-obstante and special provision regarding income by way of interest on bad or doubtful debts. It states that such interest income shall be chargeable...

TDS u/s 194H - Addition u/s 40(a)(ia)- assessee has paid Bank Guarantee Commission to Scheduled Banks approved by RBI - In the present case it is one of the banking...

Accrual of income - Deferred Bank Guarantee Commission - he commission income arising from the guarantee given on behalf of the customer has been recognized by the...

The co-operative banks under the State legislation and multi-State co-operative banks are ‘banks’ under section 2(1)(c) of Securitisation and Reconstruction of Financial...

Recognizing Deferred Tax Assets/ Deferred Tax Liability under AS-22/Ind AS-12 - Exemption to specified Government Companies u/s 129(6) of Companies Act, 2013 - Condition...

Exemption to Government Companies u/s 129(6) of Companies Act, 2013 from recognizing Deferred Tax Assets/ Deferred Tax Liability under AS-22/Ind AS-12

The summary focuses on various issues related to the taxation of banks, covering disallowances u/s 14A, interest deductibility on IPDI bonds, taxation of bad debt...

Accrual of income - interest due on NPA accounts - it is not in dispute that the assessee is a Co-operative Bank and covered under Non Scheduled Bank as per the Banking...

Disallowance u/s 14A - Exempted income - proportionate disallowance of interest paid by the banks for investments made in tax free bonds/ securities which yield tax free...

Quick Updates: