Non-Banking Financial Company (NBFC) categorization

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Full Text of the Document

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....inancial Company and Systemically Important Non-Deposit taking Non-Banking Financial Company shall be allowed as deduction on payment basis. It can be allowed on accrual basis if it is actually paid on or before the due date of furnishing the return of income of the relevant previous year. 2. Section 43D of the Act provides, inter-alia, for special provision in case of income of deposit-taking No....