Income tax
This query is : Resolved
28 September 2012
Dear Sir,
The Land revenue expenses for previus finanacial yaer but paid in current financial year,is it allowable as expenses in current finanacial year as per income tax act?
Thanks
Vinod
The Land revenue expenses for previus finanacial yaer but paid in current financial year,is it allowable as expenses in current finanacial year as per income tax act?
Thanks
Vinod
Guest
Guest
(Expert)
28 September 2012
Such expenses should be provided in the previous year itself.
28 September 2012
Hello
Under Sec-37 expenditure relating to P.Y. cannot be claimed in the Current F.Y.
However if your following Cash System you can claim such expenditure based on payment basis.
Under Sec-37 expenditure relating to P.Y. cannot be claimed in the Current F.Y.
However if your following Cash System you can claim such expenditure based on payment basis.
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