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Tax allowability of provision of inventory obsolecense

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Querist : Anonymous

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Querist : Anonymous (Querist)
09 April 2010 Is provision for inventory obsolescense and provision for warranties allowable as per I.T. Act.?
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taxindiaconnect

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taxindiaconnect (Expert)
09 April 2010 yes.
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kartik_somu

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kartik_somu (Expert)
09 April 2010 provision is not allowed.only when it is written off, it can be claimed as deduction.
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