SECURITY DEPOSIT
This query is : Resolved
anand joshi
(Querist)
02 February 2010
AS PER THE PRACTICE, SECURITY DEPOSIT IS DEDUCTED FROM EVERY BILL OF GOVT. CONTRACTORS. THIS DEPOSIT IS GENERALLY SHOWN AS A PART OF 'CURRENT ASSET'. WHERE AS THE DEPOSIT SO DEDUCTED CAN BE FORFEITED BY THE DEPARTMENT AGAINST UNSATISFACTORY PERFORMANCE OF CONTRACTOR. PLEASE GUIDE, AS A BANKER SHOULD S.D. BE CLASSIFIED AS CURRENT ASSET.
Ram Avtar Singh
(Expert)
03 February 2010
its a marign money kept by bank. its a current assets.
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