Law and Procedure an e-book | ||
Home List Manuals Income TaxIncome Tax - Frequently Asked Questions (FAQs)FAQs on ICDS This |
||
Income Tax - Frequently Asked Questions (FAQs) |
||
FAQs on ICDS |
||
|
||
When shall a provision be recognised as per ICDS-X? |
||
Ans. As per ICDS-X, a provision shall be recognised when: (a) There is a present obligation as a result of the past event to settle the liability; (b) Outflow of resources embodying economic benefits to settle the liability is reasonably certain; and (c) The amount of the liability can be reasonably estimated. |
||