Classification of sundry creditor under litigation for more than 5 yrs as current/non current liab.
This query is : Resolved
Quick Summary
11 April 2025
A Pvt. Ltd company has a sundry creditor balance of Rs.186.00 lakh under sundry creditor head for a single party and has classified the particular entry as non-current as the entry is outstanding for more than 5 years and under dispute between both the parties and matter is in the court.
Kindly clarify as the entry can be classified as non-current liability?
Kindly clarify as the entry can be classified as non-current liability?
11 April 2025
No, it will remain under current assists only till final order/settlement.
29 September 2025
Good luck..
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- Taxable or Tax exempt
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- TDS Deducted AY-2013-14 Not Reflected in 26as
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- NRI starting business in India
- ADVANCE PAYMENT OF ADVOCATE
- Filling ITR - U
- TDS Return Q1 FY 2026-27
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
