Prior Period Expenses for Travelling


Mahesh Vidwans (Student CA Final )     17 June 2019

Mahesh Vidwans
Student CA Final  
 39 points

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Is the prior period expenses for traveling expenses of company employees incurred for business purpose allowed or not? If yes how to treat?

please advise

avater

Raj C Doshi (Practising CA)     17 June 2019

Raj C Doshi
Practising CA 
 158 likes  2288 points

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Prior period expenses irrespective of which heading are disallowed under income tax.

Mahesh Vidwans (Student CA Final )     25 June 2019

Mahesh Vidwans
Student CA Final  
 39 points

View Profile | My Other Post

Thanks Sir

 

But Sir, I have one query, prior period expenses are not allowed in current year, then suppose any prior period income is there

Then it shall be taxed in current year? if yes then same principle should be applicable to expenses & should be allowed?

 

Thanks in advance


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