#section 36(1)(vii)
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125 articlesIncome Tax

Income Tax
Interest on borrowed funds allowable u/s 36(1)(iii) as funds used wholly and exclusively for business
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Interest paid on borrowing for carrying out business of investing in shares is allowable expenditure
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Assessee not required to establish that debt has become irrecoverable for writing off bad debts
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Employees Contribution to ESI & PF not allowable if paid after relevant due date
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Income Tax
Section 36 – Other Deductions | Income Tax Act, 1961
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Whether writing of bad debts in accounts sufficient to claim deduction U/s. 36(1)(Vii)?
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Advances for purchase of vehicles/plant/machinery allowable as bad debt
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Penalty cannot be levied for making a claim which may be erroneous or wrong
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Section 80IC deduction allowed for service charges based on direct nexus between service rendered & product
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Deduction of Interest Expenses – Section 36(1)(iii) – Assessment – Legal Views
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Sect. 36(1)(iii)- Interest-free loans & allowability of Interest on borrowings
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Bad Advance written off is allowable expense if it was given in the course of business
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PF / EPF, CPF, GPF etc. paid after due date but before ROI, cannot be disallowed u/s 43B or 36(1)(va)
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Income Tax
