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prior year expenses

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Querist : Anonymous

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Querist : Anonymous (Querist)
01 February 2011 can any one tell me the accounting treatment of prior year income & exp. and what is the tax treatment of prior year income & exp. while calculating income tax liability
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C.A.Javid Patel

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C.A.Javid Patel (Expert)
01 February 2011 1. expenses and income will shown after tax in prfit & loss.

2. in computation the income is added and ignore the expenses

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