Co-op society
This query is : Resolved
13 November 2014
sir,
transfers to various funds and provisions for expenses are allowed as expense in income tax audit to co-op society ?
transfers to various funds and provisions for expenses are allowed as expense in income tax audit to co-op society ?
13 November 2014
provision for expenses can be allowed in mercantile system of accounting. But transfer of funds can not be allowed unless of course such a transfer is allowed by income tax Act.
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