Deposits received
This query is : Resolved
02 August 2013
Where we have to disclose the deposits received from dealers
Dintakurthi Tirumala
(Expert)
02 August 2013
If such deposits are refundable or adjustable to the due from such dealers in future then disclose it under current liabilities or non-current liabilities depending on the period of repayable or adjustable due as on the date of balancesheet.
In case such deposits are non-refundable or adjustable then credit to the Profit and loss account in the year of receipt.
OM SAI SRI SAI JAI JAI SAI
In case such deposits are non-refundable or adjustable then credit to the Profit and loss account in the year of receipt.
OM SAI SRI SAI JAI JAI SAI
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