Provisions written back

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Querist : Anonymous

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Querist : Anonymous (Querist)
31 July 2012 Dear Friends, Please explain how to treat "Provisions written back" in Accounts, What's it impact in current year.

31 July 2012 Reverse The Entry That You done in Last Year.....

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Querist : Anonymous

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Querist : Anonymous (Querist)
31 July 2012 Yes, My doubt is Provisions written back value has been less from Profit as per Book
in PROVISION FOR TAXATION

31 July 2012 YES, SAME HAS TO BE NOW CREDITED FROM PL ACCOUNT.

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Querist : Anonymous

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Querist : Anonymous (Querist)
31 July 2012 So, we treating like a income.

31 July 2012 WHEN MADE PROVISION THEN TREATED AS EXPENSES..SO NOW WRITTEN BACK..SO INCOME..
WILL COMES IN BELOW THE LINES...


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