Is discount allowed on sales made in any of the last year (i.e.in 2010-11 or 2011-12), categorised as prior period item? If yes, what will be the tax imlecation on the same for the current year 2012-13? (i.e. allowed as deduction or disallowed )
Menu
Prior period item
Replies (1)
if the discount is cash discount, it can be allowed
Recent Topic
- Return filing for intervening period upto date of
- EPF Withdrawal taxation
- While e filing otp not generating
- INCOME FROM CLOSING OF NSS -1992 -EXEMPT UNDER W
- GPF AND COMMUTED PENSION RECEIVED
- How do I choose the correct trademark class? Can I
- Error in totalling salary amount in AIS
- Client consent under DPDPA: Is client sharing PAN,
- TDS MISMATCH
- Rebate on other income even if LTCG is above my 12
Related Topics
CAclubindia
