Secudule VI
This query is : Resolved
18 July 2011
Dear friends,
I have one query recording provision for Income tax and Advance tax in the balance sheet whether shown separately or netoff. pls give me your opinion with relavent provision and section
I have one query recording provision for Income tax and Advance tax in the balance sheet whether shown separately or netoff. pls give me your opinion with relavent provision and section
18 July 2011
Separate disclosure is required. Reason is for 'provision for taxation' there is a separate head under 'provisions' and for advance tax there is a head 'advances receivable... or value to be received like tax...' in schedule vi.
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