Impacts on current year
This query is : Resolved
23 April 2010
Dear all,
Pls help me on below issue :
we have incurred INR 15,000 for purchasing the computer parts in FY 2009-2010.
We have not made any provisions in FY 2009-2010.
Now we have received the bills in April 2010 and we have to pay the claims.
How can we treat this INR 15,000 in FY 2010-2011 and what will be the implications on taxation part , pls brief ...
Thanx in Anticipation !!!
Regards/Deepak
Pls help me on below issue :
we have incurred INR 15,000 for purchasing the computer parts in FY 2009-2010.
We have not made any provisions in FY 2009-2010.
Now we have received the bills in April 2010 and we have to pay the claims.
How can we treat this INR 15,000 in FY 2010-2011 and what will be the implications on taxation part , pls brief ...
Thanx in Anticipation !!!
Regards/Deepak
23 April 2010
What is the bill date of the bill?
If bill of F. Y. 2009 - 10 then book in last year, book the amount as payable to creditor and charge depreciation in last year.
If bill of F. Y. 2009 - 10 then book in last year, book the amount as payable to creditor and charge depreciation in last year.
23 April 2010
If bill of F. Y. 2010 - 11 then book in current year, and pay the same.
27 April 2010
Dear Aditya,
Thanx a lot...
Bill date is 15/06/2009.
We have already closed our books for the FY 2009-2010.
now ????
Rgds/Deepak
Thanx a lot...
Bill date is 15/06/2009.
We have already closed our books for the FY 2009-2010.
now ????
Rgds/Deepak
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