Amalgamation
This query is : Open
Hitendra Jain
(Expert)
10 December 2013
The Law of Land required the entity to separate the fund from profit and / or capital and utilize / invest the fund so separate in prescribed manner.
This separation is made in profit and loss account or in profit and loss appropriation account and creating the reserve. These reserves are called statutory reserve.
This separation is made in profit and loss account or in profit and loss appropriation account and creating the reserve. These reserves are called statutory reserve.
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