B&P : profit & loss a/c allowable item (cash basis)
This query is : Resolved
Vijay Parmar
(Querist)
18 June 2010
sir i have paid professional tax for the FY 2009-10 on 17/06/10. but my client make books of account on cash basis. so question is professional tax paid today its allowed as a expenses for the FY 2009-10?
i read somewhere in cash basis book of a/c only exp paid for the year 09-10 is only allowable.
i read somewhere in cash basis book of a/c only exp paid for the year 09-10 is only allowable.
Aditya Maheshwari
(Expert)
18 June 2010
expenses will be allwoable in F. Y. 2010 - 11 as payment made in current year.
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