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One time deposit paid by company.

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Querist : Anonymous

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Querist : Anonymous (Querist)
18 September 2012 our company had paid one time deposit to the telecom company, GEB company in past.. its shown in balance sheet side in assets. can we transferred it to profit and loss account?.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
18 September 2012 Deposit cannot be transfer to P&L unless that is irrecoverable.
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