In F.Y. 2018-19 I had by mistake booked an extra entry of Rs. 50,000/- and wrongly claimed it as a salary expense in Books of accounts of a Pvt Ltd company (not under tax audit) which has resulted into mismatch in bank balance with books of accounts.
Can I reverse this entry in F.Y. 2020-21 by reducing salary amount by Rs. 50,000/- which will result in matching of Bank balance with books of accounts.
25 December 2021
In relation to the above matter in the statutory audit report this amount was shown as Remuneration to director. Will that have any impact
26 December 2021
Also want to add on one more point. Can a Salary expense which was shown as Advance Salary given in F.Y. 2018-19 and was not booked as expense by the company in F.Y. 2018-19 can be claimed as expense in F.Y. 2020-21 to adjust profit. (TDS was deducted on this amount in F.Y. 2018-19)
CAclubindia
