NBFCs Cannot Deduct Provisions for Non-Performing Assets as Expenses Under Income Tax Act Section 36(1)(vii).

NBFCs Cannot Deduct Provisions for Non-Performing Assets as Expenses Under Income Tax Act Section 36(1)(vii). https://www.taxtmi.com/highlights?id=14655 Clim of doubtful debts - NBFC - Provision for non-performing assets in terms of the Directions of the Reserve Bank of India does not constitute “expense” on the basis of which deduction can be claimed by the non-banking financial companies u/s 36(1)(vii) of the Act - AT en-us Sat, 21 Sep 2013 13:17:33 +0530 Sat, 21 Sep 2013 13:17:33 +0530 TaxTMI RSS Generator NBFCs Cannot Deduct Provisions for Non-Performing Assets as Expenses Under Income Tax Act Section 36(1)(vii). https://www.taxtmi.com/highlights?id=14655 Clim of doubtful debts - NBFC - Provision for non-performing assets in terms of the Directions of the Reserve Bank of India does not constitute “expense” on the basis of which deduction can be claimed by the non-banking financial companies u/s 36(1)(vii) of the Act - AT Highlights Income Tax Sat, 21 Sep 2013 13:17:33 +0530 https://www.taxtmi.com/highlights?id=14655