Sir
we have recently efiled our Annual return and annual accounts with MCA21 for F.Y. 2011-12 AND F.Y. 2012-13 and expended Rs. 30000 and Professional fees Rs. 10000
now I want to know whether this exepnditure of Rs. 40000 is to be treated as Prior Period expense becasue it's incurred for Past years
Or should we have made provision in such past year for these filing fees?
What should be the effects under Income Tax Laws for such Rs. 40000 in a.y. 14-15
Confused ???