03 August 2009
while checking expenses, i found a bill, the expense(tds e-filing fees) in which belongs to f.y. 07-08 but date on the bill is of current year(year under audit). so how should it be shown in books? will it be treated as prior year expense? i m a bit confused since the bill date is of current year.
04 August 2009
Hi, The services are provided for FY 2007-08 and hence there should have been a provision for expenses made in that year. If not made it will be a prior period item though the bill date is of current year. However if the amount is not material, the same can be shown as part of current year.