20 May 2013
A ltd has obligation to pay rs 1000000 AT 30.1.12 REGARD SALES TAX ASSESSMENT ORDER IN RESPECT OF YEAR 2008-2009.THE ACCOUNTANT OF A LTD HAS DEBITED WHOLE AMOUNT ON P&L A/C FOR THE YEAR ENDING 31 ST MARCH 2012 .WHAT IS THE PROVISION REGARD AS-5
21 May 2013
Firstly it is not covered under AS-5. It is covered under AS-29 and provision of whole amount is required IF it is certain that amount is payable.
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