Section36(1)(vii)
This query is : Resolved
08 November 2016
Bad Debt : 36(1)(vii) needs to be read with 36(2)
The amount of bad debt is allowed as deduction in the year in which the amount becomes irrecoverable.
The ceiling is 36(1)(viia).....which basically deals with Provision for bad debt (This is mainly applicable to banking company)
The amount of bad debt is allowed as deduction in the year in which the amount becomes irrecoverable.
The ceiling is 36(1)(viia).....which basically deals with Provision for bad debt (This is mainly applicable to banking company)
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