Salary paid wrongly shown as loan.
This query is : Open
30 March 2018
A business entity has wrongly shown salary paid as Loan A/c in its Income Tax Returns for past 3 years (FY 14-15, 15-16, 16-17). Is there any way through which we can claim it is an expense in current year i.e FY 17-18.
31 March 2018
What about salary of last 3 years? Can it be shown as a Prior Period Expense in books and claim it as expense in ITR of FY17-18.
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