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Querist : Anonymous

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Querist : Anonymous (Querist)
10 September 2011
FOR NBFC COMPANY AS PER RBI NOTIFICATION

PROVISION FOR

1 - "CONTINGENT PROVISION AGAINST STANDARD ASSETS"

PLZ TELL ME WHAT WILL BE JOURNAL ENTRY

2-IS IT LIKE PROVISION FOR AUDIT FEE ETC

3-IS IT AN ITEM OF EXPENSES
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CA Hardik Bunha

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CA Hardik Bunha (Expert)
10 September 2011 standard assets dr
to provision
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CA Pushpendra Gaur

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CA Pushpendra Gaur (Expert)
03 October 2011 I believe the COntingent Provision should be created against P/L/ account like provision for bad debt
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CA Pushpendra Gaur

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CA Pushpendra Gaur (Expert)
03 October 2011 the entry suggested by Hardik is not appreciable as the above entry will reduce the amount of standards asset
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CA Hardik Bunha

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CA Hardik Bunha (Expert)
03 October 2011 @ mr.gaur entry suggested by u will be disallowed. tax will be more then.........

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