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Related prior period income

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(Querist)
02 November 2010 A Consultant comapny received the consultancy fee of rs. 6.00 lacs in current by its related to previous year and in current year shown as prior period income and last year company has loss of rs.4.00. what implication in income tax and prior period in which year to be taxed
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CA Shailesh Kumar Bhagat

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CA Shailesh Kumar Bhagat (Expert)
02 November 2010 Prior period income or expenditure will be taken in the year of accounting.
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NITIN SHARMA

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NITIN SHARMA (Expert)
07 November 2010 AGREED WITH SAILESH
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