Tax treatmrnt of expenses
This query is : Resolved
arpit jhaveri
(Querist)
26 January 2013
FOR EXAMPLE I HAVE CASH BALANCE OF RS.500000 IN BOOKS OF ACCOUNT AND I MADE EXPENSES OF RS. 400000 WHICH IS NOT SHOWN IN BOOKS OF ACCOUNT THEN SUCH EXPENSES IS TAXABLE OR NOT??
Pankaj Gupta
(Expert)
26 January 2013
If you have unrecorded expenses than your profit will increase by such unrecorded amount. You should immediately record such expenses by referring the related vouchers.
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