Reserve
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 April 2010
What is the use of Statutary Reserve, when it can be utilised ???
26 April 2010
Statutory reserves are the reserves created for specific purposes for which u get deduction in income tax Act also. it is required to be used for the particular purpose for which it is created otherwise it will be taxable as income in the year in which it is used for other purposes.
Regards, CA Shakuntala Chhangani
Regards, CA Shakuntala Chhangani
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