Projected balance sheet

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hi
20 Points Posted on 13 September 2020
while preparing projected balance sheet of private company.....companies act will follow or income tax act
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On 13 September 2020 at 23:41 Report
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When preparing a projected balance sheet for a private company, the Companies Act always takes precedence over the Income Tax Act. Salary payable should be classified under 'other current liabilities' rather than trade payables.

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Team Lead
7558 Points Posted on 13 September 2020
Always company act will follow.
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On 13 September 2020 at 23:55
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hi
20 Points Posted on 14 September 2020
Salary payble is included in trade paybles or other current liabilities
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On 14 September 2020 at 00:14
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Practising CA
8954 Points Posted on 14 September 2020
Salary Payable is included in Other Current Liabilities.


Regards
CA. Raj Doshi
R C D & Co.
Chartered Accountants
E :raj @ rcdco.in
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On 14 September 2020 at 00:38
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Tax and Business Consultant
11616 Points Posted on 14 September 2020
Yes, required to follow Company Act to Prepare Projected Balance sheet of Company.
Salary Payable is to be shown under Other current liabilities..
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On 14 September 2020 at 09:15

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