Esic and p.f.
This query is : Resolved
tarunjjain
(Querist)
09 December 2011
MY CLIENT HAS PAID RS. 300000/- TOWARDS ESIC AS ARREARS FOR THREE YEAR.
THE EXPENSES IS BOOKED IN CURRENT YEAR.
WHETHER EXPENSE IS ALLOWED AS PER INCOME TAX ACT. ?
THE EXPENSES IS BOOKED IN CURRENT YEAR.
WHETHER EXPENSE IS ALLOWED AS PER INCOME TAX ACT. ?
09 December 2011
Yes , this expense is allowed under the income tax act as liability to pay such tax has risen in this financial year only , and the company has paid the same.
tarunjjain
(Querist)
09 December 2011
WHETRE IT CAN BE TREATED AS PRIOR PERID EXPENSES ?
Guest
Guest
(Expert)
09 December 2011
No it will not be treated as prior period expenses.
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