Hello,
Last year we have created provision for doubtful debt. The same been disallowed.
This year we reversed the provision and added into the Income. How to avoid tax on the same... I mean how and where to disclose the same it ITR6.
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Revesal of provisions
Replies (1)
You can deduct it from Taxable Income while calculating tax. As Such provision was not allowed in earlier years, you already paid tax on it indirectly. So you need not to consider it again as Income nevertheless tend to Double taxation.
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