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What is difference between provisional and projected balance
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Answer / stakshi sharma
AS PER MY OPINION IT MAY BE THE:
PROJECTED IS REQUIRED FOR TAKING LOAN OR OTHER FINANCIAL
SERVICES & WHOLE DATA IS PREDETERMINATION ABOUT FUTURE.
PROVISIONAL IS REQUIRED FOR FIRM ITSELF &IT'S ALSO A
PRIDICTION WHEREAS IT'S BASED ON PAST YEAR FIGURES
| Is This Answer Correct ? | 3 Yes | 2 No |
Answer / sunil
I try to clarify these confusion
Provisional -prepared at the the end of accounting period or period which is over but before statutory audit.
Estimation-based on estimation for the period for which is running but not completed like estimation for 1 april 2015 to march 2016
Projection-period is not yet started and based on projection.Like 1 april 2016 to march 2017
| Is This Answer Correct ? | 1 Yes | 0 No |
My question is why we debit the input tax, and cradit the output tax. wt is the logic and wt is the principal behind it adil khan( CA STUDENT)
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