Schedule vi revised

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Querist : Anonymous

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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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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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29 June 2013 Thank you very much sir.....


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