Home Highlights November 2013 Year 2013 This

You may also like:

1. A bank is eligible to claim deduction towards provision for bad and doubtful debts u/s 36(1)(viia), irrespective of whether it has rural or non-rural advances. The...

2. Provision for bad and doubtful debts u/s 36(1)(viia) against the advances of rural branches - The circular mentions that the provisions of new clause (viia) of section...

3. Revision u/s 263 - reduction from provision created for bad and doubtful debts for rural advances - real income theory - This provision for bad and doubtful debts...

4. Disallowance of provision for Bad Debt Written off - provision made by the assessee for bad and doubtful debts is only a provision, but not actual written off of bad...

5. Bad debts - Provision for doubtful debts and doubtful advances - Assessee has not written off the provision for doubtful debts in the individual ledger account of the...

6. MAT Computation - Even if the provision for doubtful debt is added back to the net profits, the resultant book profit is still negative and even though the assessee was...

7. MAT Computation - even if the provision for doubtful debt is added back to the net profits, the resultant book profit is still negative and even though the assessee was...

8. Deduction u/s 36(1)(viia) of the Act - Provision for bad and doubtful debts - provision for bad and doubtful debts newly created during the year under consideration...

9. MAT computation - Provisions made for Bad and Doubtful debts - if the bad debt or doubtful debt is reduced from the loans and advances or the debtors from the assets...

10. Characterization of receipts - Treatment of interest income from staff loans and advances, interest income from other loans and advances and miscellaneous income -...

11. If provision for doubtful debts is not claimed as deduction in the computation of total income, then, naturally, the amount of provision written back cannot equally be...

12. Bad and doubtful debts written off disallowed – provision for bad and doubtful debts cannot be allowed u/s 36(1)(vii) - AT

13. Income from discontinued business - income of interest received on advances - in view of the provision of Sec. 176(3A) it is clear that the interest income on advances...

14. Disallowance of bad debts written off - Admittedly, the provision was created by the assessee in the earlier year out of the profit and loss account. Thus, any...

15. Interest u/s 234C - interest for deferment of advance tax - If on a particular due date for payment of advance tax, the facts show that there is no liability to pay...