Write-offs

RECENT NEWS
The Times of India  Jun 15  Comment 
SBI alone has written off bad loans of Rs 40,196 crore, nearly 25 per cent of the total write-offs during 2017-18. This was followed by Canara Bank (Rs 8,310 crore), Punjab National Bank (Rs 7,407 crore) and Bank of Baroda (Rs 4,948 crore).
Financial Times  May 23  Comment 
Historic debt forgiveness programme ‘has failed’, says rating agency S&P
MarketWatch  Apr 9  Comment 
You can potentially claim a deduction based on your share of qualified business income.
The Economic Times  Apr 4  Comment 
Mounting NPA has become a big problem for the banking sector. Lenders use write-offs as one of the tools to bring down bad debt on their books by making 100 per cent provision.
MarketWatch  Mar 19  Comment 
The new tax law eliminates write-offs for miscellaneous itemized expenses.
Forbes  Mar 2  Comment 
With the fall in commodity prices in late-2014, and the subsequent drop in rig count and production levels, it was a natural call to write-off Williston Basin (most notably known for the Bakken formation) as yet another casualty of energy market...
FiercePharma  Mar 2  Comment 
Sen. Claire McCaskill is taking another pass at the pharma ad tax deduction. After failing to get rid of pharma’s ability to deduct DTC advertising expenses via the tax cut bill in December, McCaskill has introduced a separate bill to do so.




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