https://www.taxtmi.com/acts?id=49029 Deduction for provisions and bad debts is allowed for specified financial assessees subject to the Table's prescribed caps and related conditions. Bad debts written off are deductible in the year of write off if previously taken into account in computing income or arising from ordinary lending; recoveries adjust prior deductions. For assessees under the provision limits, only amounts exceeding the provision account balance and debited to that single account for all advances qualify. Provisions are not treated as written off debts, and amounts recognised under notified income computation standards are deemed written off when irrevocable. en-us Fri, 14 Feb 2025 16:17:22 +0530 Fri, 14 Feb 2025 16:17:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=49029 Deduction for provisions and bad debts is allowed for specified financial assessees subject to the Table's prescribed caps and related conditions. Bad debts written off are deductible in the year of write off if previously taken into account in computing income or arising from ordinary lending; recoveries adjust prior deductions. For assessees under the provision limits, only amounts exceeding the provision account balance and debited to that single account for all advances qualify. Provisions are not treated as written off debts, and amounts recognised under notified income computation standards are deemed written off when irrevocable. Act-Rules Bills Fri, 14 Feb 2025 16:17:22 +0530 https://www.taxtmi.com/acts?id=49029