Income not accounted for...
This query is : Resolved
12 July 2013
Sir,
Going through the accounts of an organisation I noticed that, Balance shown in a Pass Book(not huge)has not at all been taken into account since 2009. Actually the balance has not at all been utilised and the balance being shown is only interest(normal) not attracting TDS.
On pointing out, the organisation says they simply did not notice the Pass Book and hence it was inadvertently missed out and they are asking solution. Can someone clear me how to account for. Actually the accounts for 2012-2013 has not been closed.
Going through the accounts of an organisation I noticed that, Balance shown in a Pass Book(not huge)has not at all been taken into account since 2009. Actually the balance has not at all been utilised and the balance being shown is only interest(normal) not attracting TDS.
On pointing out, the organisation says they simply did not notice the Pass Book and hence it was inadvertently missed out and they are asking solution. Can someone clear me how to account for. Actually the accounts for 2012-2013 has not been closed.
14 July 2013
you have to ensure that this pretty interest amt. related to last previous years should be transferred in prior period items & disclosed separately into the face of P&L
you have to ensure that this pretty interest amt. related to last previous years should be transferred in prior period items & disclosed separately into the face of P&L
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- ITC temporary reversal and reclaim
- TDS U/S. 194NF
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
