Prior period payments
This query is : Resolved
Guest
Guest
(Querist)
01 November 2014
If property tax paid for 2010-11 in 2013-14, will this expense disallowed for AY 2014-15?
02 November 2014
According to mercantile system of accounting you have to create provision in books of accounts (if this claimed as expenses in business) .
If you claiming in housing property then allowed on payment basis it self (no issue arises)
And
When paid it allowed if not provided in books .(in case of business)
No dis allowance.
If you claiming in housing property then allowed on payment basis it self (no issue arises)
And
When paid it allowed if not provided in books .(in case of business)
No dis allowance.
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