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What is Loan writeoff

Chalanachithram.com DB » New TF Industry Related » Archive through November 17, 2016 » What is Loan writeoff « Previous Next »
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Ustad
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Posted on Thursday, November 17, 2016 - 05:09 pm:       


Driverramudu:

https://youtu.be/iESg-9mmkoY


7th fail nisanis Satti & Safitri ni educate cheyyi Bhaiyya.
I learned long ago, never to wrestle with a pig. You get dirty and besides, the pig likes it - George Bernard Shaw
 

Ustad
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Posted on Thursday, November 17, 2016 - 05:06 pm:       

I sometimes wonder does people even think for a second before posting tangential questions. If the goal is to keep going around in circles, please forgive me. I got better things to do.
I learned long ago, never to wrestle with a pig. You get dirty and besides, the pig likes it - George Bernard Shaw
 

Ustad
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Posted on Thursday, November 17, 2016 - 05:05 pm:       


Amigo:

ok. but then why did they get of the india first? Maybe I missed something


What is your point here. The intention of this thread is to clarify that SBI did not waive off loans, it's just a write-off.
I learned long ago, never to wrestle with a pig. You get dirty and besides, the pig likes it - George Bernard Shaw
 

Driverramudu
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Posted on Thursday, November 17, 2016 - 04:32 pm:       

Ustad Miya

https://youtu.be/iESg-9mmkoY
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Amigo
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Posted on Thursday, November 17, 2016 - 04:24 pm:       


Amigo:

ok. but then why did they get of the india first?



I meant why did they let him get of the country in the first place
 

Amigo
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Posted on Thursday, November 17, 2016 - 04:21 pm:       


Ustad:

Indian govt. first tried to get him deported from UK which was rejected. Now, they are working on his extradition (it's a long process and takes time i.e. why they tried deportation first which is fast).




ok. but then why did they get of the india first? Maybe I missed something
 

Chanakya
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Posted on Thursday, November 17, 2016 - 04:02 pm:       


Amigo:

evaru OT aa :-)




yes :D
No one is going to tell you the truth. They’re only going to tell you their version! ~Julian Assange
 

Amigo
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Posted on Thursday, November 17, 2016 - 04:00 pm:       


Chanakya:

ipudu ee thread chusi nidrapoyina simham malli lestundhi - be ready :D




evaru OT aa :-)
 

Ustad
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Posted on Thursday, November 17, 2016 - 04:00 pm:       


Amigo:


Indian govt. first tried to get him deported from UK which was rejected. Now, they are working on his extradition (it's a long process and takes time i.e. why they tried deportation first which is fast).
I learned long ago, never to wrestle with a pig. You get dirty and besides, the pig likes it - George Bernard Shaw
 

Chanakya
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Posted on Thursday, November 17, 2016 - 03:53 pm:       

ee vishayam andariki telusu but still ignore chesi mari kummaru Modi ni.....


ipudu ee thread chusi nidrapoyina simham malli lestundhi - be ready :D
No one is going to tell you the truth. They’re only going to tell you their version! ~Julian Assange
 

Amigo
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Posted on Thursday, November 17, 2016 - 03:49 pm:       


Ustad:

Absolutely. Mallya already offered to pay principal amount but banks want full payment.

If they want to go easy, they could've simply accepted principal amount, waive off interest & close the case.




But everybody knows where Mallya is and everybody thinks Modi is a tough guy, why cant they bring him to pay whole?
 

Ustad
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Posted on Thursday, November 17, 2016 - 02:18 pm:       


Whyme:

You mean to say mallya vatts are still in danger?
- aithey vaakey


Absolutely. Mallya already offered to pay principal amount but banks want full payment.

If they want to go easy, they could've simply accepted principal amount, waive off interest & close the case.
I learned long ago, never to wrestle with a pig. You get dirty and besides, the pig likes it - George Bernard Shaw
 

Whyme
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Posted on Thursday, November 17, 2016 - 02:13 pm:       


Ustad:




You mean to say mallya vatts are still in danger?
- aithey vaakey
 

Ustad
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Posted on Thursday, November 17, 2016 - 02:12 pm:       


Jai_ycp:

lest assume they collect it 2 years after. Will they have to add it as income and pay tax? How does govt track them



Yes, it gets added under "other income" in P&L statement which is taxed.
I learned long ago, never to wrestle with a pig. You get dirty and besides, the pig likes it - George Bernard Shaw
 

Jai_ycp
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Posted on Thursday, November 17, 2016 - 02:06 pm:       

lest assume they collect it 2 years after. Will they have to add it as income and pay tax? How does govt track them
the story of YCP and TDP in 2014 (AP)- http://goo.gl/zgrYmQ
http://goo.gl/gn6XL5
the story of TDP in 2014 (T) - http://goo.gl/nyu1Wu
 

Ustad
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Posted on Thursday, November 17, 2016 - 02:03 pm:       

In a write-off, the bank includes a bad debt as an uncollectible loss on its tax return. This write-off is also called a "charge-off." The write-off reduces the bank's earnings and thereby reduces its taxable income. This accounting procedure may reduce the bank's overall tax liability, which is the goal of a write-off. The designation of the debt as uncollectible doesn't mean the bank will never collect on it -- just that it hasn't been able to collect on it until that point.

So my friends, write-off is just a book keeping measure by financial institutions which exists for many decades now.

Recent 7K cr was a write-off not waive-off.
I learned long ago, never to wrestle with a pig. You get dirty and besides, the pig likes it - George Bernard Shaw

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