(urgent help needed) Prepaid Business Expenses

This discussion clarifies how to report prepaid business expenses, specifically for Google Ads, on your Income Tax Return (ITR). The consensus is that you should only claim the amount actually deducted or spent from your Google Ads account within the tax period as an expense. Any remaining balance that is carried over is considered a prepaid expense and can be claimed in future periods as it is used. The timing and content of Google's invoices are crucial in determining how to account for these costs.