when we make any provision for example provision for doubtful debts, provision for depreciation
is there any tax benefit allowed
please reply
tnk u in advance
7 Replies
Manish
(CA)
(1174 Points)
Replied 11 January 2023
Provision for doubtful debts - not allowed
Provision for depreciation - not allowed, only depreciation calculated as per the income tax act is allowed.
Anamol Agrawal
(29 Points)
Replied 11 January 2023
Mtlb provision allowed nahi h actual expenses hi allowed h?
sabyasachi mukherjee
(27574 Points)
Replied 11 January 2023
Sec 30 to 37 under profits and gains from business and Profession.g.⁰
Manish
(CA)
(1174 Points)
Replied 11 January 2023
| Originally posted by : Anamol Agrawal | ||
 |
Mtlb provision allowed nahi h actual expenses hi allowed h? |  |
Yes, only actual bad debts are allowed.
CA Susheel Gupta
(CA, LLB)
(72 Points)
Replied 11 January 2023
Provision for doubtful debts is not an allowable expense.
If you write off the receivable as bad debts, it is allowable expense.
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