While calculating the book profit we add back the following:
"the amount set aside to provisions made for meeting liabilities other then ascertained liability"
what are the item which are cover under this clause......
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Replies (5)
THIS CLAUSE COVERS UNASCERTAINED LIABILITIES
Saloni JI...
I mean to say what are the various items debited in the profit and loss account which come under this clause....
i mean what are the unascertained liabilities
E.g. Provision for Gratuity
Dividend Received if any, which is exempt u/s 10(34) etc.
Thanks Rajput.
Thanku Everyone
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