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What is the difference between provision and payable
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Answer Posted / y p nevatia
In provision, either the receipient or the amt. involved or
both are not certain & even TDS is not attracted on
provision made.
In case of payable or outstanding liability, both the
amount & receiptient are certain but bill for the same may
or may not have been received. TDS, if applicable, shall be
deducted for creating any liability or payable.
| Is This Answer Correct ? | 8 Yes | 2 No |
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