exchange rate fluctuation and his true
and actual gain should take into account the exchange rate
fluctuation. The second proviso is applicable to all others ... sole or
even a primary factor in exchange rate depreciation. Current
account deficit and public debt, terms of trade, political stability,
economic performance
account of observation
made by „Comptroller and Auditor General of India‟ (CAG). The CAG
observed as under: -
CAG Observation
Liability for Expenses (Account Code ... should have been
transferred to Miscellaneous Income Account. This has resulted in
overstatement of current liabilities and deficit by Rs.7.68 crore
deducted from the deficit of ` 54,28,16,000/- in
the Policyholders account (Technical Account) to arrive at the net
deficit for the year ... business activity of the
company and any current deficit (loss) or carried forward deficit
(loss) in policyholders account, which is business loss is allowed
allow carry forward off the deficit of earlier years
to be set off of the surplus of current year income & subsequent years and consider ... erred in
allowing carried forward of deficit of earlier years amounting to Rs. 57?38,572/-on
account of excess expenditure over the income) against
presentation of insurance
accounts and as per the revised format for the presentation of
accounts in the new Regulations under IRDA, the impact ... thus the surplus/deficit was
including the impact of both. There is a scheme of presentation of
accounts currently in force for life insurance companies
forward of deficit of Rs.
14,30,11,390/-, and directing the Assessing Officer to
allow carry forward of deficit on account of excess
expenditure ... carry forward of
deficit on account of excess expenditure and
directed the assessing officer to allow carry
forward of deficit on account of excess
their Groups shows amounts in
38 Lakhs mentioning Capital, Loans taken, current liabilities, Deficits,
Immovable Assets, Assets, Loans given & the Balance & further
mentions ... also in CD No. 19)
LIABILITIES:
Capital Account 2,537 2,537
Current Liabilities 10 10
TOTAL 2,547 2,547
ASSETS :
Fixed Assets - -
Investments
presentation of insurance
accounts and as per the revised format for the presentation of
accounts in the new Regulations under IRDA, the impact ... thus the surplus/deficit was
including the impact of both. There is a scheme of presentation of
accounts currently in force for life insurance companies
presentation of insurance
accounts and as per the revised format for the presentation of
accounts in the new Regulations under IRDA, the impact ... thus the surplus/deficit was
including the impact of both. There is a scheme of presentation of
accounts currently in force for life insurance companies
actuarial surplus for the current year is
determined by aggregating the results of the Policyholders' and Shareholders'
Accounts, capturing the net effect ... income, expenses, provisions, and
adjustments recorded within both accounts. This surplus/deficit, calculated
through the actuarial valuation process, is directly taken as the basis
