deduction avbl or not????
This query is : Resolved
21 September 2010
if an assesee forgot to take one expence in books of accounts in last year which need to deduct TDS but he deducted tax deposited the same .......now wht is the accounting treatment for tht expence in current year????
also tell me can in current year said exp. allowable or not?
also tell me can in current year said exp. allowable or not?
22 September 2010
This is a prior period expenditure.
Yes , the exp. is allowable under I T Act in current year.
Yes , the exp. is allowable under I T Act in current year.
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