Work certified wrongly stated as sales.

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

25 September 2014 One of my client is construction company and he prepared his contract account for 2012-13, in which he stated work certified as sales..Now in the current financial year (i.e. 2013-14) he realize his mistake and want to change his sales into work certified, which done previously..he can do so. if yes then what kind of disclosure may be made in his notes of account..

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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25 September 2014 then better book rectification entries in the form of journal.

Querist : Anonymous

Querist : Anonymous (Querist)

25 September 2014 journal is pass away, i wanna know that their is any system exist for moving sales entries into work certified, which is already filed with RoC, income tax etc..and which is also not identified by previous auditor as well as directors of the company..
If yes, then being auditor, what kinds of disclosure is being made in his report regarding this..

please suggest please..

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Nikhil Kaushik

Nikhil Kaushik (Expert)
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26 September 2014 you can get the auditor to issue revised audit report. then revise the tax return. for revising MCA submissions, contact regional MCA office as there is no provision for revision of Form 23AC and 23ACA

Querist : Anonymous

Querist : Anonymous (Querist)

26 September 2014 But Sir, How to revised income tax return as they are filed bileted by the company and as per section 139(5) the return within due date u/s 139(1) is revised by any assessee and whereas the assessment order u/s 143(1) is come out since last two month..