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Closing stock in p& l a/c and in balance sheet

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Querist : Anonymous

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Querist : Anonymous (Querist)
13 June 2013 Hi All

while Filing Income Tax Return Assessee Enters 2 Different Figures In P & L account and in Balance Sheet in Some Cases he is Not Brought Closing Stock in P & L but in Balance Sheet he Shows. where he Adjust and As per AS- how WIP he will Show.

Please explain the Possibilities

Thanks in Advance
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CA AYUSH AGRAWAL

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CA AYUSH AGRAWAL (Expert)
14 June 2013 both should be equal.

under closing stock..WIP can be shown as separate subhead.

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