https://www.taxtmi.com/acts?id=49505 Amendments to section 36 permit a scheduled or specified non scheduled bank, at its option, to deduct provisions for assets classified by the Reserve Bank as doubtful or loss up to five percent of those assets in the bank's books in any of the defined consecutive assessment years. The amendments also add a discrete deduction for expenditure incurred in a specified prior year to make non Y2K computer systems Y2K compliant, subject to exclusivity from other provisions and a required accountant's certification filed with the return; statutory definitions of "computer system" and "Y2K compliant computer system" are provided. en-us Sat, 22 Feb 2025 10:54:13 +0530 Sat, 22 Feb 2025 10:54:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=49505 Amendments to section 36 permit a scheduled or specified non scheduled bank, at its option, to deduct provisions for assets classified by the Reserve Bank as doubtful or loss up to five percent of those assets in the bank's books in any of the defined consecutive assessment years. The amendments also add a discrete deduction for expenditure incurred in a specified prior year to make non Y2K computer systems Y2K compliant, subject to exclusivity from other provisions and a required accountant's certification filed with the return; statutory definitions of "computer system" and "Y2K compliant computer system" are provided. Act-Rules F. Acts / Amendment Acts Sat, 22 Feb 2025 10:54:13 +0530 https://www.taxtmi.com/acts?id=49505