Prior period expenses

Dear All,

One of our company has not filled its annual return (ROC) for last 3 years. In the current year it has filled all the three returns. In our account books we have not created any provision towards certification fee of the forms and ROC fee. 

Kindly advice wether these ROC expenses are treated as prior period expenses in this current year.

Regards,

Vivek Jarial

Replies (3)
Prior period items are income or expenses which arise in the current period as a result of errors or omissions in the preparation of the financial statements of one or more prior periods.
In your case there is omission of not filing return, hence should be treated as prior period items/expenses.
Correct me if wrong..
 

Dear Vivek,
           Prior period items are income or expenses which arise in the Current period as a result of errors or ommissions in the  preparation of financial statements of one or more periods(AS-5). In the case of this company it has not filed Annual return with ROC for past 3 years&It filed in the current year.It is an error from the part of company.So ROC fee can be treated as PRIOR PERIOD expenses and can be debited to profit&loss account accordingly
.

 

Regards,

VivekPattaje

As per my understanding ROC filing are required when the AGM is being held. FY 2012-13 the AGM will held on September 2013 and filing will be made on October 2013/November 2013 so the filing expenses for AGM held in the month of Septmeber 2013 will become the part of expenses of FY 2013-14.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 21 September 2026
CA Article Assistant

KK & Company Chartered Accountant

Pune

CA Inter

View Details
Company
Featured 03 October 2026
Accountant

A P Lodha and Associates

Jalna

B.Com

View Details
Company
18 September 2026
Accounts & Finance Specialist

ULTRA CHEMICAL WORKS

Thane

CA Final

View Details
Company
10 October 2026
Accounts Associate Level 1

Abic and Mani Chartered Accountants

Kottayam

B.Com

View Details
Company
20 September 2026
Semi Qualified CA

Navin & Associates

Mumbai

CA Inter

View Details
Company
17 September 2026
Chartered Accountant

Dass Gupta & Associates

Gurgaon

CA

View Details
Company
22 September 2026
Account Assistant

Chirag P Shah & Co. Chartered Accountant

Pune

B.Com

View Details
Company
14 October 2026
GST & TDS ASSISTANT

AGGARWAL SANJAY & ASSOCIATES

New Delhi

B.Com

View Details