Impacts on current year

This query is : Resolved

Deepak Maithani (Querist)
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23 April 2010 Dear all,

Pls help me on below issue :

we have incurred INR 15,000 for purchasing the computer parts in FY 2009-2010.

We have not made any provisions in FY 2009-2010.

Now we have received the bills in April 2010 and we have to pay the claims.

How can we treat this INR 15,000 in FY 2010-2011 and what will be the implications on taxation part , pls brief ...

Thanx in Anticipation !!!

Regards/Deepak

Aditya Maheshwari

Aditya Maheshwari (Expert)
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23 April 2010 What is the bill date of the bill?

If bill of F. Y. 2009 - 10 then book in last year, book the amount as payable to creditor and charge depreciation in last year.

Aditya Maheshwari

Aditya Maheshwari (Expert)
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23 April 2010 If bill of F. Y. 2010 - 11 then book in current year, and pay the same.

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Deepak Maithani

Deepak Maithani (Querist)
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27 April 2010 Dear Aditya,

Thanx a lot...

Bill date is 15/06/2009.

We have already closed our books for the FY 2009-2010.

now ????

Rgds/Deepak