Provisions written back

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Querist : Anonymous

Querist : Anonymous (Querist)

31 July 2012 Dear Friends, Please explain how to treat "Provisions written back" in Accounts, What's it impact in current year.

CA Ayush Agarwal (Expert)
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31 July 2012 Reverse The Entry That You done in Last Year.....

Querist : Anonymous

Querist : Anonymous (Querist)

31 July 2012 Yes, My doubt is Provisions written back value has been less from Profit as per Book
in PROVISION FOR TAXATION

CA Ayush Agarwal (Expert)
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31 July 2012 YES, SAME HAS TO BE NOW CREDITED FROM PL ACCOUNT.

Querist : Anonymous

Querist : Anonymous (Querist)

31 July 2012 So, we treating like a income.

CA Ayush Agarwal (Expert)
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31 July 2012 WHEN MADE PROVISION THEN TREATED AS EXPENSES..SO NOW WRITTEN BACK..SO INCOME..
WILL COMES IN BELOW THE LINES...

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