28 June 2009
1.amortisation of premium paid on purchase of government securities by a bank as provided in the reserve bank of india circular. Is this a deductible expense for income tax purpose? 2.A bank transfers certain investments held under held to maturity category to held for trading. The current market value of these securities is very low.Whether the bank can claim this(notional) loss as a deduction while computing taxable income?
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