AS 29 Provisions

 

AS per AS 29 all the provisions covered under this standard needs to be disclosed in the balance sheet as under :

Opening Balance    Amount utilised/Spent      Addition during the year  Closing

                 Balance

 

But As 29 excludes from its scope the provisions covered under AS 15,AS 7,As 19 and As 22 i.e Provision for gratuity,Leave salary,Provision for taxation etc. In that situation, is it necessary to give the above details of Provisions as required by AS 29. If so, in our company we are netting off the provision for tax from the advance tax paid as per the recent opinion of the expert advisory committee. Then, how to disclose the details. Can any body suggest ? Srinivas