Query on accounts finalisation
This query is : Resolved
Guest
Guest
(Querist)
25 July 2012
Dear Friends / Experts,
I have a query in finalising the accounts for Individual (I am just assisting my friend for filing his income tax return as he is a small tax payer).
Balance Sheet is not tallying (i.e. Liabilities is not tallying with Assets
and has a difference of say Rs.21500/-).
Query
The assessee is not in a position to recollect the details for such difference.
How can the accounts be finalised in such a situation or is there any way to resolve this ?
Ans.......
Kindly advise on the above query.
Thanks.
I have a query in finalising the accounts for Individual (I am just assisting my friend for filing his income tax return as he is a small tax payer).
Balance Sheet is not tallying (i.e. Liabilities is not tallying with Assets
and has a difference of say Rs.21500/-).
Query
The assessee is not in a position to recollect the details for such difference.
How can the accounts be finalised in such a situation or is there any way to resolve this ?
Ans.......
Kindly advise on the above query.
Thanks.
26 July 2012
For meeting the deadline of 31st July he can file the return with whatever income details he has and carry the difference in assets liabilities in suspense account. Later when he has complete details he can revise the return.
04 August 2012
First Prepare the cash flow, check all tghe entries in the bank account. Without proper details how someone can tell you how to tally a Balance Sheet
Just from the income you can file the return
Just from the income you can file the return
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