In its annual report, Karnataka Bank has reported two different figures are provisions for income tax?
Can someone explain what is the actual figure?
It is on page 60 of the fy 2009-2010 annual report.
https://www.karnatakabank.com/ktk/Investors.jsp
Provision for Incom Tax 48.50
ii) Provision towards Income tax 23.18
Dear Friend!
Under table no. 11.21 Income tax provision made during the year is 48.50 crores means this is the provision for future year taxes like advance tax for next year. This is reflected in the Balance sheet.
Under table no.11.23, i.e 23.18 Crores, It is amount actually paid during the current year & made effected in P&L A/c
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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