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Tag: bad debt

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FBR Sets Conditions for Deduction of Bad Debts in Tax Year 2024

September 3, 2023September 3, 2023Shahnawaz Akhter

Karachi, September 3, 2023 – The Federal Board of Revenue (FBR) has issued guidelines specifying conditions for allowing deductions for bad debts during the tax year 2024.

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Expenditures against bad debt allowed

August 1, 2021December 28, 2023Mrs. Anjum Shahnawaz

The Federal Board of Revenue (FBR) has allowed expenditures against bad debt with certain conditions under Section 29 of Income Tax Ordinance, 2001.

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Irrecoverable loans to be allowed tax concession

December 12, 2019May 6, 2024Mrs. Anjum Shahnawaz

KARACHI: Federal Board of Revenue (FBR) shall allow reduction in tax liability against bed debts where loans are irrecoverable, officials said.

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