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Risk of prior period expenses

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(Querist)
16 July 2016 What are the risk of Prior Period Expenses recorded in current year to the business
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Rachit Nagpal

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Rachit Nagpal (Expert)
16 July 2016 There is no such risk involved.The same will be disallowed as an expense.
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Dipesh Raj Giri

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Dipesh Raj Giri (Querist)
20 July 2016 Thank you for your reply....All prior period expense is disallowed???
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CA Rohit Jain

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CA Rohit Jain (Expert)
20 July 2016 yes all period expenditure will be disallowed in the current year...

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