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Excess short provision

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(Querist)
15 December 2007 Pls Define Excess Short Provision?

thanx
regards
Ghanshyam
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CA. Vineet Grover

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CA. Vineet Grover (Expert)
15 December 2007 hi ghansham,

The issue of excess / short provision arises when the provision as per books are different with the IT Order issued by the IT department on assessment.

At such a situation, the excess / short provision are adjusted effecting the profit & loss account.

The said treatment shall be effected below the line the profit & loos account.

For further clarification feel free to reply.

rgds/
vineet
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