28 May 2012
In F.y. 2010-11 we forgot to book a expenses & bill date was also lying in F.Y. 2010-11 can we book as expenses in F.Y. 2011-12 & if we book it as expenses in F.Y. 2011-12 what will be the tax implications.
It will be Prior Period Expense if you have not made any provision in this regard and the such expense will not be allowed as deduxtion under income tax.
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