What will be the accounting treatment of expenditure disallowed by IT department while any AY was under scruitny and assessment order has been passed and subsquently tax paid by the assessee after such disallowance.?
Menu
Accounting Treatment of exp. disal by IT dept while scruitny
Replies (2)
Expenditure has been merely disallowed by the Assessing officer hence no entry is required for such expenditure.Think of some expenses which are per se not allowed like Penalty for infringement of any law.Likewise in the opinion of the AO though it is spent but not allowed.
Had the AO found out certain unaccounted income,expenditure,unaccounted cash or stock then entry would be required.
No such entry should be reflected or enter in the books of account. it only in your computation.
Recent Threads
- Advice on income tax
- E filing thr net banking for AY2025-26
- PROPERTY REPORTING IN ITR
- F&o profit or loss can show a government emplo
- Tax Query for FY 2024-25
- ITR Offline JSON Utility not showing saved drafts
- Incometax port8 not working
- U4gm-Leveling an Amazon Build with Lightning Spear
- 44ADA income declaration
- Taxation of RSU sold of foreign listed entity by e
Related Threads
CAclubindia
