Treatment of prior period item
Anil kumar (student) (116 Points)
24 July 2016We have paid municipal tax due for the 2005-06 to 2014-15 during the year 2015-16 , can we treat the same as revenue expenditure and dr. it to Profit & Loss a/c
Anil kumar (student) (116 Points)
24 July 2016
mohammad rasool baig
(Management Consultant)
(1026 Points)
Replied 26 July 2016
Yes. We can consider it as revenue expenditure.
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"