U/s 36(1)(vii) & (viia)
This query is : Resolved
CA Raghavender
(Querist)
05 January 2010
Hi,
I hv doubt in Income Tax,
is 36(1)(vii) applicable to only banking assesees &/or all other business, and also give clarity in S 36(1)(viia)
Thanks & Regards---
I hv doubt in Income Tax,
is 36(1)(vii) applicable to only banking assesees &/or all other business, and also give clarity in S 36(1)(viia)
Thanks & Regards---
06 January 2010
In so far as section 36 on Bad debts is concerned it is applicable to all the assesses including a banking company and or investment and others mentioned, however in so far as Reserve for bad debts allowance is concerned a specific provision is applicable only to a banking company whether indian or foreign and also the limits are mentioned therein.
06 January 2010
In so far as section 36 on Bad debts is concerned it is applicable to all the assesses including a banking company and or investment and others mentioned, however in so far as Reserve for bad debts allowance is concerned a specific provision is applicable only to a banking company whether indian or foreign and also the limits are mentioned therein.
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