P&L
This query is : Resolved
14 July 2010
I request all experts to put light on following interesting issue:
If a assesse Decides not to Credit LTCG TO profit & loss A/c then which accounting standard OR Schedule VI is contravened
If a assesse Decides not to Credit LTCG TO profit & loss A/c then which accounting standard OR Schedule VI is contravened
Sunil Kr. Sanganeria
(Expert)
14 July 2010
If a cmpany does not credit LTCG profit to Profit and loss account means the company will directly credit to Reserve account.
In that case, the Profit and loss account will not show the true and fair view of the Company and it may lead to misrepresentation to the shareholders. Schedule VI will be contravened
In that case, the Profit and loss account will not show the true and fair view of the Company and it may lead to misrepresentation to the shareholders. Schedule VI will be contravened
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