Impacts on current year

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Deepak Maithani (Querist)

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

Aditya Maheshwari

Aditya Maheshwari (Expert)

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.

Aditya Maheshwari

Aditya Maheshwari (Expert)

23 April 2010 If bill of F. Y. 2010 - 11 then book in current year, and pay the same.

Deepak Maithani

Deepak Maithani (Querist)

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

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