CA Pramod Jain (manager finance) (1577 Points)
29 December 2009hi all,
i filled last itr with increased opening capital account balance by rs.2 lac, will it go through or should i file revised return.
@ CA. $ahar$h @
(Student)
(338 Points)
Replied 29 December 2009
Its always better to submit what is correct in it department so u must revise ur return as u must have shown the increase in capital account in some other account as well.so dont take risk bro.
Amir
(Learner)
(4016 Points)
Replied 29 December 2009
I Hope the increased Capital of Rs. 2 Lac was not on account of Concealment of Income in the earlier year...
If it is just an accounting adjustment having no affect on income then there is no need to revise return since the same can be explained if any query comes from the department...
However if Income was wrongly computed in ealier year then U MUST REVISE THE RETURN AND DECLARE THE CORRECT PARTICULARS....
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