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Prior period expense

This query is : Resolved 
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(Querist)
03 September 2012 What is the tax provision regarding last year bill received in current year? Will it be allowed for deduction if goods received in current year?
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CA Ayush Agarwal

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CA Ayush Agarwal (Expert)
03 September 2012 Related to Purchase or Expenses ?
If Not Book in Last Year due to Say Stock in Transit, Then Purchase Bill Allowed in This Yeear.
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VARUN GUPTA

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VARUN GUPTA (Querist)
06 September 2012 and in expenses case ? other than purchase bill(journal vouchers)?
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CA Ayush Agarwal

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CA Ayush Agarwal (Expert)
06 September 2012 Expenses to be Based on Accrual Basis.
Also Depend on Type of Expense.

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