Some Plant AC maintenance charges for previous year was not provisioned.. it is taking place in current year. How to deal with prior period unprovisioned expenditure? What about tax audit impact? Is it AS 4 , Cl 44 of Form 3 CD.
Please advise
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Unprovisioned expenditure.. tax audit impact
Replies (3)
Unprovisioned expenditure has to be qualified as contingent liability with a notes on accounts.
You can book the expense in CY and note as "Previous Year Expenditure".
No not necessarily
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