Hello,
Last year we have created provision for doubtful debt. The same been disallowed.
This year we reversed the provision and added into the Income. How to avoid tax on the same... I mean how and where to disclose the same it ITR6.
Menu
Revesal of provisions
Replies (1)
You can deduct it from Taxable Income while calculating tax. As Such provision was not allowed in earlier years, you already paid tax on it indirectly. So you need not to consider it again as Income nevertheless tend to Double taxation.
Recent Threads
- Negative Export Value in GSTR 3B
- Income tax intimation -AY 24-25
- Tax Implications of Alumni Union (R) under Society
- Heard & Seen Around – Your Daily Economi
- Purchase and sales of Shares entry in Tally
- Where to know latest GST HSN Codes and their Rates
- Hsn code and rate cnsl crude oil
- Clarification required on taxation of income from
- Pension Income up to Rs.1,66,250 per month equal t
- Reappointment of Managing Director in a private li
Related Threads
CAclubindia
