Deduction u/s 36(1)(viia) of the Act - Provision for bad and ...

Income Tax

May 2, 2012

Deduction u/s 36(1)(viia) of the Act - Provision for bad and doubtful debts - provision for bad and doubtful debts newly created during the year under consideration should not be netted against the amount written back or reversed. However, there might be a situation that the provision created for a particular debt needs enhancement and in that situation, only the enhanced amount should be treated as the new provision for the purpose of sec. 36(1)(viia) of the Act. - AT

View Source

← Previous Next →

Deduction u/s 36(1)(viia) of the Act - Provision for bad and ...

Income Tax

May 2, 2012

You may also like:

Provision for bad and doubtful debts u/s 36(1)(viia) against the advances of rural branches - The circular mentions that the provisions of new clause (viia) of section...

Advances made to rural branches of bank – Whether deduction u/s 36(1)(viia) can exceed the amount of provision for bad and doubtful debts - Held no - AT

Bad and doubtful debts written off disallowed – provision for bad and doubtful debts cannot be allowed u/s 36(1)(vii) - AT

Bad debts versus Provisions for bad and doubtful debts - rural banking - Scope and ambit of the proviso to Section 36(1)(vii) - provisions of Sections 36(1)(vii) and...

Bad & doubtful debt or mere Provisions were made - provisions u/s.36(1) (vii) and 36(1) (viia) are separate and independent to each other - CIT(A) has rightly observed...

Disallowance of provision for Bad Debt Written off - provision made by the assessee for bad and doubtful debts is only a provision, but not actual written off of bad...

Bad debts versus Provisions for bad and doubtful debts - provisions of Sections 36(1)(vii) and 36(1)(viia) are distinct and independent items of deduction and operate in...

Claim u/s 36(1)(viia) restricted only for provision for rural debts - AT

Bad debts claimed should be set off against the opening balance available in the “Provision for bad and doubtful debts” account created u/s. 36(1)(viia) and the balance...

Disallowance u/s. 36(1)(viia) - advances from their Rural Branches - deduction u/s 36(1)(viia) is to be allowed only on the amount of provision made for bad and doubtful...

Quick Updates: