Supervisory permanent establishment requires project-wise duration and qualifying construction nexus; offshore supplies and salary reimbursements rema...
Transfer-pricing comparability permits fresh objections and filters where software service comparables are functionally unsuitable for arm's-length pr...
Territorial rendering requirement excludes China-based management and consultancy services from fees for technical services under the India-China DTAA...
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 presence of both rural and non-rural advances is not mandatory. The assessing officer must consider the actual provision made in the books for bad and doubtful debts, regardless of the nature of advances. The deduction is allowed subject to the permissible upper limits specified in Section 36(1)(viia)(a). All types of banks described under sub-clause (a) of clause (viia) are entitled to seek deduction of an amount not exceeding the prescribed percentage of total income, provided there is a provision for bad and doubtful debts in the books of account. The existence of rural branches is not a condition for availing the deduction up to the specified percentage of total income.
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 presence of both rural and non-rural advances is not mandatory. The assessing officer must consider the actual provision made in the books for bad and doubtful debts, regardless of the nature of advances. The deduction is allowed subject to the permissible upper limits specified in Section 36(1)(viia)(a). All types of banks described under sub-clause (a) of clause (viia) are entitled to seek deduction of an amount not exceeding the prescribed percentage of total income, provided there is a provision for bad and doubtful debts in the books of account. The existence of rural branches is not a condition for availing the deduction up to the specified percentage of total income.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4894 
