Prior period item/expense
This query is : Resolved
PRASIL V V
(Querist)
28 August 2014
Tds payable Rs.8000 for the year 2013-14 paid in 2014-15 with interest Rs.500.
Is this interest prior period expense .?
28 August 2014
any item which is ommited to be recoreded then its case if prior period exp but if its intentionally not paid in 13-14 then its not ppi.
Rupesh Jain
(Expert)
28 August 2014
in my opinion it is related to the tax payment then you can take current year exp in which year you have paid.
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