Extraordinary items in profit and loss account

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Querist : Anonymous

Querist : Anonymous (Querist)

18 November 2011 1. Whether DONATION can be taken as extraordinary items?? Give reason for tha same..

2. Also give more example of extraordinary items....

C.A.Javid Patel

C.A.Javid Patel (Expert)
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18 November 2011 1. No Donation is not an Extraordinery itmes it will come under the operating expenses. It is condsidered as normal expenses of the business.

2. An Extraordinery item is an item which is not a day to day item. Like loss by earth quake

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