I would like know what are ways of recording Unrecorded Assets purchased five years back and not shown in Books..What are the ways to get it in record backdated ?? I am having a Sole Proprietor trading Business ?
27 February 2014
Since it is five years back not possible to add as old dated. take current WDV as asset cost and add the capital introduced by proprietor
28 February 2014
But can i revise my Personal Balance Sheet post dated and include the asset as "Personal Asset" in Fixed Asset..Because i am availing Sec 44AD.
CAclubindia
