what is this

PART III

Interpretation

7. (1) For the purposes of Parts I and II of this Schedule, unless the context otherwise requires,—

(a) the expression "provision" shall, subject to sub-clause (2) of this clause, mean any amount written off or retained by way of providing for depreciation renewals or diminution in value of assets, or retained by way of providing for any known liability of which the amount cannot be determined with substantial accuracy;

written off

Its a remaining Value of Any Fixed Assets at the end of useful life...!!

Thank you suresh bhayya for better explanation.

Thanks Suresh ....................

Originally posted by : A.Jayasri
	Thank you suresh bhayya for better explanation.

Welcome jee..!!!!!!!!!!!!!!!!

Originally posted by : Prashant Maheshwari
	Thanks Suresh ....................

Welcome jee.!!!!!!!!!!!

Thanks a lot for Noticing my reply jee............!!!!!!!!!!!!!