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Querist : Anonymous

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Querist : Anonymous (Querist)
18 May 2013 Please suggest a company decucted penelty from cerditors and recorded as a income in a currnt financial year , further in a next financial year a official order passed such penelt to be paid my question is when i paid penelty can i debited above credited income head in next financial year
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CA Sourabh Agarwal

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CA Sourabh Agarwal (Expert)
19 May 2013 No, you must charge it as an expense of current year.
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