What is the difference between provision and payable
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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