04 March 2011
What is the maximum deduction avialble under section 36(1)(viia) for banking company? What is the impact of provision of bad debt, on the deduction available?
There is a dedution for Provision FOR BAD DEBTS upto 10% depending on what sort of Banking co it is.
While other provisions of the Act does not allow deductions for Provision for Bad & Doubtfull debt , section 36(1)(viia) allows the same for banking cos. thats the impact.
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