one of our client didnt make any provisions on march 13 in respect of elctricity.that means 31/03/2013 expenditure is taken in current year as on 01/04/2013.from current year(01/04/2013--31/3/2014) can we make provision by taking 13 months into consideration for current year.
well if the provision is not made then it has to be shown as prior period expense. and hence disallowed.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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