Expenses or Provision

Sharad Saini (Student) (286 Points)

01 June 2010  

Hi

A company receives various bills like electricity or telephone etc for March to April. Now should the company provide for exp related to march  as provision or book expense(half portion).

and imcome tax implication of this expenses.... whether this half portion would be allowed

 

This is usually igored but sometime it may be of large amount if size of company is big or it is having offices at many places.......