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Know Your Rights: What Loan Recovery Agents Can and Cannot Do at Your Doorstep
In India’s rapidly expanding credit market, personal and business loans have become a lifeline for millions. However, with the rise in borrowing ...
![RBI mandates Aadhaar for KYC Verification [Read Circular]](https://www.taxscan.in/wp-content/uploads/2017/03/Aadhaar.jpg "RBI mandates Aadhaar for KYC Verification [Read Circular]")
RBI Revises Guidelines relating to Participation of an Indian Resident and FPI in Exchange Traded Currency Derivatives Market [Read Circular]
The Reserve Bank of India (RBI) has revised guidelines relating to the participation of a person resident in India and Foreign Portfolio Investor (FPI) in the Exchange Traded Currency Derivatives...
No Deduction of Accrued Interest on Bad Debts / NPAs since Assessee is not a Scheduled Bank and had not recognized any Income as per RBI Guidelines [Read Order]
The Ahmedabad bench of ITAT in the case of Dy. Commissioner of Income-Tax vs The Saurashtra Co-op Bank Ltd, held that deduction of accrued interest on bad debts and doubtful debts / NPAs can be...
![No Deduction of Accrued Interest on Bad Debts / NPAs since Assessee is not a Scheduled Bank and had not recognized any Income as per RBI Guidelines [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/01/Bad-Debt-Taxscan.jpg "No Deduction of Accrued Interest on Bad Debts / NPAs since Assessee is not a Scheduled Bank and had not recognized any Income as per RBI Guidelines [Read Order]")
Commission paid against Guarantee by Directors is not deductible u/s 37(1) if the payment was not in terms with RBI Guidelines: ITAT Delhi
In Eastman Industries Ltd v. ACIT, the Delhi ITAT held that a Company is not entitled to get deduction under Section 37(1) of the Income tax Act in respect of commission paid to its directors for...
