revised audit report

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 September 2010 dear sir
in last year 2008-09 while finalizing a petrol pump's audit report , by mistake tanker freight of Rs. 52 lacs is taken as 42 lacs , sir kindly suggest me how can i rectify it ,
either i can revised the audit report as well as final accounts of last year or to show this 10 lacs as prior period item in current year p& l a/c , if we can claim expenses from such income or not .
please reply soon

Praveen Sharma

Praveen Sharma (Expert)
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18 September 2010 Charge Rs. 10lakhs as exp. for prior period.

Regards
P

Querist : Anonymous

Querist : Anonymous (Querist)

20 September 2010 sir it is an item of income , letter of assessment is received from ito

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Praveen Sharma

Praveen Sharma (Expert)
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20 September 2010 you cannot rectify it. A the audit report has been resent in the AGM & approved by th shareholders.

Now, the assessment has been done for this.