Prior Period expenses : Income tax

This discussion explores the tax treatment of prior period expenses that were not recorded in the previous financial year but are booked in the current year. It questions whether these expenses will be disallowed for tax purposes in the current year and added back to taxable income. The advice suggests referring to IND AS 8 and AS 5 for guidance on the treatment of prior period expenses, particularly concerning their 'crystallisation' within the current year.