Tax saving on provision
Anamol Agrawal (29 Points)
11 January 2023is there any tax benefit allowed
please reply
tnk u in advance
Anamol Agrawal (29 Points)
11 January 2023
Manish
(CA)
(1158 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
sabyasachi mukherjee
(27330 Points)
Replied 11 January 2023
Manish
(CA)
(1158 Points)
Replied 11 January 2023
Originally posted by : Anamol Agrawal | ||
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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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