Dear All
Whether it is required to make provision for Debenture Redemption Reserve , if Compulsory convertible debenture are fully convertible
Thanks
Shekar
(CA & LCS )
(1109 Points)
Replied 04 August 2010
Chaitali,
The DCA Circular clarifies that Section 117C (creation of DRR) will apply only to the non-convertible portion of debentures issued, whether they are fully or partly convertible.
Master GSTR-9 and 9C with India's First Unique Live Course with Live practical training
LIVE Form 10 B and Form 10BB: Handle Tax Audit Reports of Charitable Organizations(without recording)
CAclubindia
