TELEPHONE BILL PERIOD OF 12.03.2010 TO 11.04.2010 --> AT WHAT DATE ENTRY SHALL BE MADE & IN WHICH YR THIS SHALL BE ALLOWED? I DON'T WANT TO GIVE OPPORTUNITY TO STAT AUDITOR TO FIND MISTAKE . SO PLZ GUIDE ME. IT'S URGENT.
THNX & REGARDS.
Menu
NORMAL ACCOUNTING
Replies (3)
Dear Friends,
My Q. is daily use basic question. I didn't think, no one can answer it . it's so sad for caclubindia's member.
Hi Amit....
Expenditure for telephone bill in respect of period march-april '10 will be made of the basis of receipt of bill i.e. thr is no relevance as per the I. T. act of the above case just because some part of the services rendered relate to a different A. Y. therefore you should account for the said expenditure in the year of its receipt of its bill i.e. in previous year 2010-11 and deduction of the same will be allowed in A. Y. 2011-12.
hope that above explanation helps you.
Hey Amit
Expenditure for Telephone Bill Period of 12.03.2010 to 11.04.2010. U can do it as provision of telephone bill i.e. 20 days like example Telephone Bill Period of 12.03.2010 to 11.04.2010 amounting Rs. 1200 than u can Rs. 800(20 Days) Provision of Telephone Bill in the F.Y. 2009-10 and after that u adjust in F.Y. 2010-11 against total bill.
Recent Topics :
- Capital Gain on Sale of SRA Allotted Flat Received
- Discrepancy in Auto populated figures in GSTR1 of
- What should I do after receiving a GST Show Cause
- Discuss and Download CA Inter Question Paper Septe
- Hi experts needed some help
- Gift of Immovable Property u/s 92 of Income Tax Ac
- NSE BSE Pre-open session changes from 7 September
- Financial statements for non corporate entities
- Hi experts need some help
- Is SAP FICO a good career option for finance and a
Related Topics :
CAclubindia
