Provision for gratuity
This query is : Resolved
HARISH KAPOOR
(Querist)
17 April 2018
Because of the hike in gatuity limit from 10 lakh to 20 lakh, the amount worked out by actuary ,the whole amount is to be charged to Profit in one year or it may be deferred to more than one year. Pl advice taking in to consideration the provision of AS-15
CA R SEETHARAMAN
(Expert)
17 April 2018
Actuarial Gains and Losses comprises of the effects of the difference between the previous and actual actuarial assumptions or the changes in the assumptions. Actuarial Gains or Losses should be determined by profit or loss immediately as income or expense.
whole amount is to be charged to Profit in one year
whole amount is to be charged to Profit in one year
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