We have done e filing for 2021-22AY under 44ADA but now turnover crosses 50Lakhs for current FY. So Tax Audit is applicable for current year and books of accounts have to be maintained for this year.
Opening balances have to be adjusted since bank balance and capital ledgers results in difference in opening balances .
Can we adjust it ?
Do we need to prepare Balance Sheet now for earlier year also ?
CAclubindia
