Tax allowability of provision of inventory obsolecense
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 April 2010
Is provision for inventory obsolescense and provision for warranties allowable as per I.T. Act.?
09 April 2010
yes.
09 April 2010
provision is not allowed.only when it is written off, it can be claimed as deduction.
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