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Section36(1)(vii)

This query is : Resolved 
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(Querist)
07 November 2016 Explain
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Amol S Joglekar

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Amol S Joglekar (Expert)
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)
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