Is provision for tax financial liability or non financial liability as per AS-31 & why............
ravi chetani (CA Final) (46 Points)
25 October 2010Is provision for tax financial liability or non financial liability as per AS-31 & why............
CA RAJENDRA PANDEY
(ACA B. Com AMFI NCFM NISM)
(327 Points)
Replied 25 October 2010
Dear,
its Non-Financial Liability
CA RAJENDRA PANDEY
(ACA B. Com AMFI NCFM NISM)
(327 Points)
Replied 25 October 2010
Since Financial Liab means any contractual obligation to pay in cash or other similar assets like debtor, B/R etc.
Since there is no contractual obligation exist. therefore it is non- financial lib.
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