I had not shown Salary expenses of Rs. 1 lac in my Profit and loss account as there was not much profit earned during the year. I showed it as Advance Salary paid.
I want to know whether this Advance Salary can be booked as expense in future years to come when I want to adjust excess profit earned during the year.
20 September 2021
Section 44AD, declaration of profits under presumptive assessment, does not mandate any such expenditures to be carried forward to future years, including depreciation.
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