Allowability of provision for discount on debtors
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 November 2015
Is provision for discount to debtors an allowable expense.If yes please provide section reference.
When Provision for expenses are allowed in Income computation??
When Provision for expenses are allowed in Income computation??
04 November 2015
Discount to buyers is always allowed as deduction. If however it is writing off off bad debt, it has to satisfy requirement of Section 36(1)(vii).
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 November 2015
Its just an provision not actual discount provided,still is allowed??
If yes please give reference of section
If yes please give reference of section
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