Accounting adjustment/entry

A/c entries 434 views 1 replies

Dear

Members

The assesse a partnership firm started its Operation in july`2013. It incurred a cost of Rs 12,71,000/- Appx. in F.Y 2012-13 which includes 

Rent of the building,Electrical fittings, signboards,and Other Furnishing work.

The Issue is:-What would be the treatment of those revenue expenditure

Building Materials like Marbel etc used for furnishing the Mall what would be the treatment in F.Y. - 2013-14

 

Replies (1)

Though the operations started in jule 13, but u r paying everything before on the name of the firm na.. that means u had filed income tax return for the a.y.12-13 also... and in that u must have claimed these expenses na though there is no profit.. so that loss can b carried forward...


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