Why is Bank allowed a deduction under Income TAx Act for provision made for bad & doubtful debts?why is this exeption?
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Exception: bank
Replies (4)
Banking institution are providing financial facilities at large....
their major function is to lend money to people and from it they get interest income which is major source of income for them......
so that it is necessary to provide deduction for "Provision for doubtful debts" because it can not be known with certainty .....
sounds quite logical.tx..
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| https://banksindia.net...... |
surely.. do you have any idea abt banking exams that 1 needs to give to get jobs in bank
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