interest
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 August 2010
My company has taken a loan in F.Y 08-09 and repaid the same in the same F.Y. But accountant has provided interest in the F.Y 09-10 pls tell me wat will be the consequenses
03 August 2010
Interest provided in fy 2009-10 is prior period expense, it will be add back at the time compuatation of tax , i.e it is disallowed.
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03 August 2010
Agreed with Mr. bansal.
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