Our Company has Booked previous years bills date in current financial year, SO It is a prior period exp. booked in current year ,
Is there any solution to rectify this ?
Ashwini Kumar Rohilla
(M.Com and CA-FINAL)
(949 Points)
Replied 27 November 2012
According to me:
I think it is not belongs to current year....
As we study in topic NPO Last year Subscripttion received in current year is deducted while preparing Income and Expenditure A/c But shown in Balance Sheet..........Your problem is related to this.......
Gaurang Dandiwala
(Accountant)
(51 Points)
Replied 27 November 2012
| Originally posted by : Mr. Ashwini Rohilla | ||
 |
Dear Sir,
It means it will be disallowed while preparing for filing income tax. |
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Bhaskar Unnikrishnan CPA CMA
(Accounts / Administration)
(414 Points)
Replied 28 November 2012
Hope below link may clarify your doubt:
https://220.227.161.86/eac/eacfinal/vol1/47.htm
CAclubindia
