prior period items

mittal2243

dear all
i want to know whether prior period items is allowed in income tax or not if no in which section of it act

atul mittal

naveent

hi

this is naveen

Prior period items are not allowed under income tax i.e., it is disallowed

Quote:

Originally Posted by mittal2243

dear all
i want to know whether prior period items is allowed in income tax or not if no in which section of it act

atul mittal

lokendraaries

Prior Period Items are not allowed in Income tax act,also you can see the complete details for Prior period Item in Accouting Standard-5

Lokendra Sharma