Provision against Bad debts
This query is : Resolved
13 September 2022
As per RBI direction bad debts provision made against investment in PMC Bank. Provision made for last 3 years@ 20% ,from 2020 ,2021 ,& 2022 and for next two years also RBI given direction for provision , Now PMC amalgamate with unity small finance bank and investor of PMC will take NCPS& equity bond of Unity. As PMC amalgamate with UNity SFB what will be the taxation effect for last 3 years bad debts provision , it will added back in computation or not?
CA R SEETHARAMAN
(Expert)
13 September 2022
It will be added back in computation.
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