Prior Period Expenses for Travelling


Student CA Final

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
 
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Practising CA

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

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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