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Last year purchase bill in current year (income tax purpose)

ITR 1747 views 2 replies

Can i take last year's purchase bill (dated-22-03-18), i.e. FY 17-18 purchase bill for which Income tax return is filed, in the current year i.e. FY 18-19 as a purchase ?

Replies (2)
yes you can take but you won't get any tax benefit as it' related to prior period.
how did you manage your closing inventory for 2017-18

Accounting is not on stock basis. Its only accounting. 


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