How to book the expenses which are related to Last financial year 18-19 in Current Financial year 2019-20 ? Is there any effect of Income tax? Is these expenses can allow in Current financial year 2019-20?
04 December 2019
Account in 'prior period expenses/ income' a/c. Show in profit and loss a/c as separate item. Disallow u/s 37 in current year income tax computation.
CAclubindia
