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Excess prov of it

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Querist : Anonymous

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Querist : Anonymous (Querist)
02 July 2012 Where should i show Excess Prov on IT in Revised Schedule VI?
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Amol S Joglekar

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Amol S Joglekar (Expert)
02 July 2012 Provision will go under Current Liability. The excess if any is to be decided by the management whether they are going to utilise it in the next 12 months or not. That will decide the further fate of excess provision.
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