Taxation of interest income: specified financial institutions must include interest on prescribed bad debts when credited or received. Section 43D requires specified financial entities to include interest relating to prescribed categories of bad or doubtful debts in taxable income in the ... Summary
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Taxation of interest income: specified financial institutions must include interest on prescribed bad debts when credited or received.
Section 43D requires specified financial entities to include interest relating to prescribed categories of bad or doubtful debts in taxable income in the year it is credited to the profit and loss account or, if earlier, the year it is actually received; key terms and covered entities are defined by statutory cross-reference.
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