I had expend transport expenses in the month of March 08, but transporter give me bill on 5 th may 08 and bill date is 4 th may 08
my question is =
Can i booked expenses in the month of march 08, or make a provision in the month of March 08,
plz give me suggestion
I beleive here the substance over form principle and matching principle should prevail.. as per form though it is not the concerned period expenditure, but this in substance an expenditure which is incurred in the period ended 31st mar-08. So this expense should be treated as the expenditure pertaining to the period ended 31 mar-08.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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