Can anyone please explain the meaning of "Estimated amount of contracts remaining to be executed on capital account [net of advance]" ?
Menu
Schedule 6
Replies (1)
It includes Future capital expenditures that a company has committed to spend on long-term assets over a period of time.(Ex: Pending WORK ORDERS)
If the Company paid any advances, then we have show net of advances
As these will not effect the financial statements, the amount should be shown in notes to accounts
Recent Topics :
- Last day for ITR-U for AY 2023-2024 (FY 2022-2023)
- Sale of shares in indian company by a non resident
- Difference in TIS
- GSTR-9C Upload Status Error Occured
- “Income Tax Implications of Company-Related
- Advice needed: Hypothetical case of non-filing of
- Demand Raised for Cess Amount Despite Section 89 R
- WRONG BILL NO FILED IN GST R1
- Addtional trade name for my another firm
- Commission / Agency Business without books: REAL E
Related Topics :
CAclubindia
