Whether uncommitted reserves are to be adjusted against debit balance and whether calls in advance are to be shown under the head “Current liabilities and provisions”

Whether uncommitted reserves are to be adjusted against debit balance and whether calls in advance are to be shown under the head “Current liabilities and provisions” https://www.taxtmi.com/circulars?id=10679 All uncommitted reserves must be set off against the debit balance in the profit and loss account so the balance sheet presents a true and fair view. Calls in advance should be shown under the head Current liabilities and provisions, appropriately placed immediately after Reserves and surplus in the prescribed balance sheet format. en-us Tue, 09 May 1961 00:00:00 +0530 Thu, 16 Jun 2011 11:26:00 +0530 TaxTMI RSS Generator Whether uncommitted reserves are to be adjusted against debit balance and whether calls in advance are to be shown under the head “Current liabilities and provisions” https://www.taxtmi.com/circulars?id=10679 All uncommitted reserves must be set off against the debit balance in the profit and loss account so the balance sheet presents a true and fair view. Calls in advance should be shown under the head Current liabilities and provisions, appropriately placed immediately after Reserves and surplus in the prescribed balance sheet format. Circulars Companies Law Tue, 09 May 1961 00:00:00 +0530 https://www.taxtmi.com/circulars?id=10679