Claiming of expenses
This query is : Resolved
27 November 2013
There had been a dispute between Company A and Company B in 2011-12. Company A issued a debit note to Company B for Rs 10 Cr and booked the same as its income in that year. Later on in the next year i.e. in 2012-13, the dispute was mutually solved for Rs 4 Cr. Company A wants to book expenses of Rs 6 Cr in its books in FY 2013-14. How can it be done and what are the documents required for this to claim it in Income Tax?
CA VISHNU GAVKARE
(Expert)
01 December 2013
is Income of Rs. 10crore taken in to account for tax for year 2011-12?
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