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Income Tax - Highlights / Catch Notes

Home Highlights August 2016 Year 2016 This

Interest on NPA - interest on non performing assets is not ...

Income Tax

August 10, 2016

Interest on NPA - interest on non performing assets is not taxable on accrual basis looking to the guidelines of the Reserve Bank of India - HC

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

  2. Interest accrued on NPA - whether non-performing assets in the hands of the assessee- Cooperative Banks is taxable on accrual basis or not? - interest on NPA's is...

  3. The assessee (Co-operative Bank) was justified in not recognizing interest income from non-performing assets in consonance with the notification issued by the RBI and...

  4. Interest on sticky advances – accrual of income - provision of interest on doubtful debts - the interest income relatable to NPA advances did not accrue to the assessee - AT

  5. Accrual of interest income - the directions with regard to the prudential norms issued by the Reserve Bank of India are equally applicable to the assessee as it is...

  6. Accrued interest on non-performing assets(NPA) - merely because for accounting purpose, the assessee was to follow RBI guidelines it would not mean that the assessee was...

  7. One Time Settlement (OTS) - Non-Performing Asset, (NPA) - The sum and substance of the discussion would be that no writ of mandamus can be issued by the High Court in...

  8. Clim of doubtful debts - NBFC - Provision for non-performing assets in terms of the Directions of the Reserve Bank of India does not constitute “expense” on the basis of...

  9. Co-operative bank is also a banking company; not liable to pay tax on NPA interest on accrual basis in view of RBI norms relating to income recognition and assets...

  10. Income recognition - interest income on 'non-performing assets' - AS 9 - For AY 2004-05 it is to be seen is whether the assessee has got non-performing asset in terms of...

 

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