Prior period item
This query is : Resolved
18 September 2013
for ex-i have paid the self assessment 10000 for f.y 12-13. Now in the a.y 13-14 an intimation order u/s 143(1) came which demands me to pay more tax of 20000. NOw in the a.y 13-14 can i treat 20000 as an prior period item !
Ganeshbabu K
(Expert)
18 September 2013
No No, it is not prior period item
.
.
it will come below line item,,should accounted as prior year tax
.
.
tax is caluculated on PBT,,however prior year tax will come below the line of PBT
.
.
.
it will come below line item,,should accounted as prior year tax
.
.
tax is caluculated on PBT,,however prior year tax will come below the line of PBT
.
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