Overstated reserves and surplus

Vignesh (Finance executive) (256 Points)

13 March 2018  

Hi our company is in the field of giotech.our company is incorporated in 2010.During lost 7 years by mistake reserves and surplus is overstated.Now we are reducing reserves and surpuls.is there is any problems comes if we do so.Please provide some provisions if any in imcome tax relating to reducing reserves and surplus.