Category: Finance News

Deduction towards provision for bad & Doubtful Debts available on if the provision is done in the books of accounts & not otherwise: Section 36(1)(viia)

By | 30th July, 2020

Deduction towards provision for bad & Doubtful Debts available on if the provision is done in the books of accounts & not otherwise: Section 36(1)(viia) Often Assessee bank claimed deduction towards provision for bad and doubtful advances u/s 36(1)(viia) @ 7.5% of…Read More »

Excise Department cracks whip on iron goods ‘mafia’

By | 14th June, 2020

The Excise and Taxation Department has cracked the whip on iron goods ‘mafia’ who had been supplying stocks without proper documentation in the region. Highly placed sources in the department said stocks worth about Rs 70-80 lakh were confiscated by various teams…Read More »