Salary
This query is : Resolved
11 August 2012
Dear All,
I want a solve my quaries.
Example:
The Pvt Company booked salary expenses in F.Y 10-11, Month October ,Nov to Feb 2011, & shown in payable 31.03.2011 ,but paid cash & Cheque salary April 2011,the expenses of salary allowable in f.y 10-11.
whose section apply in this case.
thanks
I want a solve my quaries.
Example:
The Pvt Company booked salary expenses in F.Y 10-11, Month October ,Nov to Feb 2011, & shown in payable 31.03.2011 ,but paid cash & Cheque salary April 2011,the expenses of salary allowable in f.y 10-11.
whose section apply in this case.
thanks
13 August 2012
No specific section is applicable to this situation. Even Section 43B is NOT applicable.
Deduction is allowed because the expenditure has been incurred, although not paid.
SInce books of accounts are maintained on accrual basis, deduction has been allowed.
Deduction is allowed because the expenditure has been incurred, although not paid.
SInce books of accounts are maintained on accrual basis, deduction has been allowed.
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