Hi,
Is it allowable under IT act, provision for doubtfull debts by a NBFC company, according to RBI Guidelines ?
Regards
Pavan Jinuga
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provision on doubt ful debt by a NBFC company
Replies (2)
under Section 36(1)(vii a) of the I-T Act, a provision for bad and doubtful debts made by banks and financial institutions is allowed as a deduction to the extent of 7.5 per cent from the gross total income
Ok...
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