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Section – 36 - Increase in deduction limit in respect of provision for bad and doubtful debts

 

According to existing provisions, certain types of banks are allowed deduction in respect of provisions for bad and doubtful debts limited 7 ½ % of the total income and amount not exceeding 10% of aggregate average advances made by rural branches of such bank.

It is proposed to increase the said limit from 7 ½ % to 8 ½ %.

 

The amendment will be effective from 1st April 2018.


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