Is provision for tax financial liability or non financial liability as per AS-31 & why............
Is provision for tax financial liability or non financial liability as per AS-31 & why............
Dear,
its Non-Financial Liability
Since Financial Liab means any contractual obligation to pay in cash or other similar assets like debtor, B/R etc.
Since there is no contractual obligation exist. therefore it is non- financial lib.
thanks rajendra
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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