An assessee(Company) debits sales tax paid in FY 2009-10 which pertains to FY 2008-09 for which no provision was provided. whether the expenditure will be disallowed as prior period item or can it be claimed as deduction in AY 2010-11 the reason being even if provision was provided in FY 2008-09 itself the same would have been diallowed u/s 43B?
Menu
query.........
Replies (1)
It will be disallowed...As prior period expenses doesnt nt takes into provision in books...and also prior period expenses doesnt get affected with 43B....
Recent Threads
- Accounting of Govt Grant in aid-Assam Tea Estate
- Utilizing Capital gains in new home construction
- Hi i have some doubt about my microsoft exam?
- Period of holding of residential flat and its acqu
- ITRs for AY 2025-26 filed in September 2025 not pr
- Heard & Seen Around – Your Daily Economi
- Best NISM course for an Accountant
- Calculate IT on LTCG AND STCG for the FY 2025-26
- Heard and Seen Around - Your Daily Economic Quick
- Returning to India - Residency confusion
Related Threads
CAclubindia
