Provision
This query is : Resolved
09 September 2015
what is the provision
15 September 2015
as per meaning of Provision, you have to make provision for something.
like if you are known that any kind of income or expense must be booked but due to some reason like unavailiablity of proper documents you can not post entry. so you have to post provision entry for such amount for closing period, and have to reverse the same upon actual income/expenses arrived.
like if you are known that any kind of income or expense must be booked but due to some reason like unavailiablity of proper documents you can not post entry. so you have to post provision entry for such amount for closing period, and have to reverse the same upon actual income/expenses arrived.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Under construction property in ITR
- Booth for sales promotion
- Building tax payment deduction in rental Income
- Upload Level ValidationITR3Category of Defect B/D
- New Garden in Place of Old Garden
- TAX AUDIT QUESTION
- VALUATION OF PRIVATE LIMITED COMPANY SHARES
- LIABILITY ADJUSTMENT
- Capital Gains on sale of residential flat
- Accounting with Claude
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
