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Provision for depreciation

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 December 2009 Provision exceed the depreciation in this circumstace when that provision surplus amount transfer to p&l?

After this financial year OR

disposal of this asset
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CA.SHAHZAD SAYYED

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CA.SHAHZAD SAYYED (Expert)
29 December 2009 Dear
Since at the time of making provision you debited to P/L A/c so in case of excess provision you should Reverse to P/L A/c only at the time of closing of Books of A/c
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Murtaza I Bhagat

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Murtaza I Bhagat (Expert)
30 December 2009 agree with Shahzadbhai. that you have to revert entry to that particular f.y.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
30 December 2009 we need to reverse the excess provisin while closing the books for the particular FY

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