1) I am working in an XYZ company, suppose there are few expense bills which are left for booking and after 31st March I am booking in the books( in the month of March ), suppose I am booking in the month of September and TDS Paid in the month of October 2024, the due date of filing of return is 31/10/2024 ( non audit case ), can I claim expenses in ITR, ( Balance sheet/ profit and loss ) ?
is the expenses allowed or disallowed in the income tax?
However, there are some conditions:
1. The expense should be incurred during the FY (in this case, FY 2023-24).
2. The expense should be related to the business and not a capital expense.
3. The expense should be supported by proper documentation (bills, receipts, etc.).
However, you can claim them in the next FY's tax return (FY 2024-25) as a carry forward expense.
Regarding TDS paid in October 2024, it will be allowed as a deduction in the ITR for FY 2024-25.
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