10 October 2011
It should be shown as Changes in working Capital Schedule if given as standalone item in two balance sheet
But if adjustment pertaining to Advance tax, Provision for Taxation is given
Then the amount of provision for the year is required to be added back in calculating Fund from Operation and Taxes paid should be shown as deduction from Fund from Operation
Some author shows Payment of taxes as Application of fund rather than adjusting the same from "Calculation of Funds from operation"
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