Provision for Proposed Dividend
This query is : Resolved
20 August 2007
whether the provision for proposed dividend falls in the definition of provisions as covered by AS 29 ? If not, whether it is governed by any another accounting standard ?
20 August 2007
In my opinion It should not cover under AS 29 because it is not emerging out due to past obligation. Only proposed divided binding upon company after in AGM declaration. As per AS 9 revenue of this item also recognised after AGM declaration. It can any time revoke before the declaration, it is only simple provision which is set aside for future payment if share holders permit it .
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
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- RATE AND HSN CODE
- Taxability of Partnership firm for FY 2025-26
- Portuguese Civil Code IT Return
- TDS AND ITR ISSUE
- EMI ISSUE IN HOUSING LOAN OLD REGIME
- LIC maturity claim whether taxable
- HOUSING LOAN ISSUE
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
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
