Deduction.
This query is : Resolved
03 July 2014
Can't understand elaborate ur query.
03 July 2014
Provision are not allowed as deduction but expenses.
03 July 2014
IF PROVISION NOT ALLOWED AS A DEDUCTION BECAUSE IT IS NOT EXP. THEN Y WE WRITTEN IN P&L ACCOUNTANT
03 July 2014
First of all its P&L Account and not accountant.
Provisions r created to meet future expenses. It is just like for example say u save money to buy books and u purchase books after say 5 years so expenses is incurred after 5 years but u kept aside a decent amount which will help u in future to meet the expenses.
Same is in deduction case. If u incurred an expenditure then u r eligible to claim it.
Provisions r created to meet future expenses. It is just like for example say u save money to buy books and u purchase books after say 5 years so expenses is incurred after 5 years but u kept aside a decent amount which will help u in future to meet the expenses.
Same is in deduction case. If u incurred an expenditure then u r eligible to claim it.
03 July 2014
Regarding P&L Entry, provisions r created out of profits. So it is not an expenditure but savings for future expenses.
03 July 2014
FIRST OF ALL SORRY,
TELL ME,
PROVISION IS CASH EXP. OR NON-CASH EXP.
IF IT IS NON CASH EXP. THEN TELL ME AT THE END OF THE 5 YEAR FROM WHERE I GET MONEY FOR OBTAINING A BOOK
TELL ME,
PROVISION IS CASH EXP. OR NON-CASH EXP.
IF IT IS NON CASH EXP. THEN TELL ME AT THE END OF THE 5 YEAR FROM WHERE I GET MONEY FOR OBTAINING A BOOK
03 July 2014
Are Yaar, how to tell u.
First clear that Provision is not is not is not is not is not an EXPENDITURE. Plz dont mind that repetition is for u to get the thing.
Suppose u have Rs. 50/- and u kept it for future expenditure. (Read again it is "FUTURE EXPENDITURE"). And ur money is with u. It is just a savings and not expense. So u will easily buy the book after 5 years.
Till now if u have a problem then u may call at 8282803100( or whatts app)
First clear that Provision is not is not is not is not is not an EXPENDITURE. Plz dont mind that repetition is for u to get the thing.
Suppose u have Rs. 50/- and u kept it for future expenditure. (Read again it is "FUTURE EXPENDITURE"). And ur money is with u. It is just a savings and not expense. So u will easily buy the book after 5 years.
Till now if u have a problem then u may call at 8282803100( or whatts app)
03 July 2014
Provision made for approved gratuity plan is allowed. Prov for Bed debts allowed only to Banks on certain specified %
04 July 2014
NOT FOR A PERSON WHO UNWILLINGNESS TO GIVE ANSWER :
IF PROVISION IS NOT AN EXPENDITURE THEN Y WE DEBITED TO PROFIT AND LOSS ACCOUNTANT
IF PROVISION IS NOT AN EXPENDITURE THEN Y WE DEBITED TO PROFIT AND LOSS ACCOUNTANT
05 July 2014
Well Ms. B pray to god. Only God can make u understand this now.
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