Corporate Law
This query is : Resolved
12 April 2008
A public LTD Co.has bad & doubtfull debt of Rs. 1 crore.But company is ready to make provision for Bad & Doubtfull debt for Rs.15 Lakhs only. what are the consequenses of such case.
12 April 2008
If the provision not made is justified on the basis of possible recovery, the directors can so record in their meeting while considering accounts. Otherwise auditors can qualify the short provision in their report.
A qualified report if not justifiably considered, there can be embarassments on dividend provision and provision for managerial remuneration
A qualified report if not justifiably considered, there can be embarassments on dividend provision and provision for managerial remuneration
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
- GSTR-1A How to update Invoice
- Excess salary payment.
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Stamp Paper for partnership firm change new income tax 2025
- Capital gain from sale of house property
- SFT Cash Deposit in Current Account
- Value of property in capital gain
- When TDS on GST applied
- Requirement of tax deduction at source by individual
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
