Section 36 Amendment: Non-Banking Financial Companies Can Deduct Up to 5% for Bad Debts Before Other Deductions.

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Full Text of the Document

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....Amendment of section 36. - any provision for bad and doubtful debts made by a non-banking financial company shall be allowed a deduction of an amount not exceeding five per cent. of the total income (computed before making any deduction under this clause and Chapter VI-A).....