Schedule vi revised

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Querist : Anonymous

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Querist : Anonymous (Querist)
27 June 2013 Salary Payable to Directors
Under which head must be the liability presented in revised schedule vi?

28 June 2013 Under 'current liabilities' in line item 'short term provisions'.

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 June 2013 Salary is Provision?

29 June 2013 Yes, line item "Short term provisions" is further divided into-
i) provision for employee benefits -- show salary payable to directors under this sub line item. [ this is my observation as a corollary to (ii) given below]

ii) others (specify nature) -- items to be shown under this line item includes provision for dividend, provision for taxation, provision for warranties etc.,

Courtesy:- ICAI Guidance note.

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 June 2013 Thank you very much sir.....


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