expenses

This query is : Resolved

Prakash (Querist)
Follow

21 December 2010 We have certified our esi return for the period Oct'10 March'10 from our auditor. Audit sent their bill dt. 12.5.2010 as audit fees but we did not book this expenses previous year 2009-10. So my query is, can we book this amount in current period (2010-11) as prior period expenses and deduct tds on it and another question, is it prior period expenses when auditor sent bill on current year date ?

CA. Dashrath Maheshwari

CA. Dashrath Maheshwari (Expert)
Follow

21 December 2010 Yes, its a prior period expense, you have to provide for audit fee in the previous year itself.
If you treat it as prior period expense, it will be disallowed and then what is the need of TDS (as if you do not deduct TDS, the expense will be disallowed) as its already under disallowed expense.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

prasanth kona

THOMAS JOHN

nilesh

Chandan Kumar

Kamaljeet Kaur

Subscribe Now

expenses

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

CA Final

GST CONSULTANCY

Article Assistant

Accountant

GST CONSULTANT