income tax
This query is : Resolved
Guest
Guest
(Querist)
19 June 2009
what is prior period expenses
19 June 2009
Expenses which are incurred prior to commencement of business.
19 June 2009
Expenses prior to commencement of business.
19 June 2009
agree with the experts
19 June 2009
AS PER AS-5 , PRIOR PERIOD EXP ARE THOSE EXP WHICH ARISE OUT OF ERROR OR OMISSION IN PREVIOUS YEAR PERIOD AND ARISE IN CURRENT YEAR.
20 June 2009
agree
20 June 2009
Prior period items are income or expenses which arise in the current period
as a result of errors or omissions in the preparation of the financial
statements of one or more prior periods.
as a result of errors or omissions in the preparation of the financial
statements of one or more prior periods.
26 June 2009
Just for the sake of clarification , the expenditure which are incurred prior to commnencement of business are expenditure prior to commencement and are laible to be capitalised in books along with capex if belong to capex direclty. Indirect expenditure are charged to P & L Account. The prior period expenditure and incomes are those as defined by Ankur Above.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Under construction property in ITR
- Not able to file ITR
- Building tax payment deduction in rental Income
- Upload Level ValidationITR3Category of Defect B/D
- Booth for sales promotion
- Rental income of jointly held property
- Regarding ITR filing with more value than showing in AIS/TIS
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
