TaxTMI Login
Just a moment...
By creating an account you can:
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All TMI Notes
of of All TMI Notes
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Section 31 preserves dual deduction regime: capped percentage provision allowance and separate conditional deduction for irrecoverable write-offs</h1> The enacted Section 31 preserves a dual regime: a capped, percentage-based deduction for provisions for bad and doubtful debts for specified financial assessees and a separate, conditional deduction for actual irrecoverable write-offs. Key differences from the original bill are drafting clarifications-explicit rule-making language for rural-branch computations, clearer linkage requiring debits of bad debts (or part thereof) to a single provision account covering all advances before write-offs are deductible, and terminology harmonization ('irrecoverable'). Practically, institutions must maintain a single provision account, align accounting entries with tax claims, and document rural-branch and redemption-related add-ons.
TaxTMI 
TaxTMI 