Amortisaton of expenses VRS
This query is : Open
17 January 2011
1)We introduce VRS scheme and paid VRS amount to left employee. What will be the accounting entry i.e whole amount debited to P& L a/c and second what effect on computation of income. pls explain
CA PARAS BAFNA
(Expert)
17 January 2011
One fifth of the amount paid has to be debited to the P&L A/c as Expenditure of this year.
Balance of the amount paid has to be written off in the next four years.
Pl Refer Section 35DDA
Balance of the amount paid has to be written off in the next four years.
Pl Refer Section 35DDA
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