Note 10

AS 29

Short-term Provisions

General Instructions for Preparation of Statements

Short-term provisions for employee benefits, warranties, current taxation, etc.

Short-term Provisions Workings

Schedule III, Part I — Division I (Section H) — FY 2025-26

Definition

Provisions for which the outflow of resources embodying economic benefits is expected to occur within 12 months after the reporting date.

Recognition Criteria

Recognized under AS 29 when the company has a present obligation as a result of a past event, settlement is expected within 12 months, and a reliable estimate of the outflow can be made.

Measurement Principles

Measured at the best estimate of the expenditure required to settle the present obligation at the reporting date, without discounting under Indian GAAP (AS).