Bad debts out of income recognised on the basis of ICDS but not yet recognised in books of account

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..... t not as per normal accounting standards (AS) or accounting policies. And finally such income is found as non-recoverable and bad debts. To address this situation, Finance Act, 2016 has inserted second proviso to section 36(1)(vii) which reads as under: Provided further that where the amount of such debt or part thereof has been taken into account in computing the income of the assessee of t .....

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