Disputed statutory dues
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 November 2018
In ABS there is disputed statutory dues and also some contingent liabilities consisting of Tax and other statutory dues. What is the difference between them? Does the latter represents a part of the list of disputed statutory dues?
Now while analysing its impact on the net worth of Company in future, whether both the dues to be considered.
Now while analysing its impact on the net worth of Company in future, whether both the dues to be considered.
CA pinki pathak
(Expert)
01 November 2018
disputed dues are those dues which are subject to litigation and appeals. and yes disputed dues can become your contingent liability depending upon the chances of losing the litigation.
Continent liabilities are not included in calculation of Net Worth. it can only be deducted when it is probable that the future event will occur (in your case losing the case) and the amount of the liability can be reasonably estimated.
Continent liabilities are not included in calculation of Net Worth. it can only be deducted when it is probable that the future event will occur (in your case losing the case) and the amount of the liability can be reasonably estimated.
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