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Prior period item

This query is : Resolved 
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(Querist)
20 August 2012 Sir,
A trust has paid an arrear amounting to Rs.134000 to Noida Authority for water expenses realting to previous years, How do i treat that in accounts n income tax?
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CA CS Amit S. Kedia

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CA CS Amit S. Kedia (Expert)
20 August 2012 under income tax, there is no prior period as such for taxation of trust and deduction will be allowed even if it is not claimed earlier
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CA CS Amit S. Kedia

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CA CS Amit S. Kedia (Expert)
20 August 2012 Under income tax, there is no prior period as such for taxation of trust and deduction will be allowed even if it is not claimed earlier
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