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Can a private limited company accounting

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Querist : Anonymous

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Querist : Anonymous (Querist)
20 June 2013 Can a Private limited Company prepare its accounts on Cash Basis
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Rupesh Jain

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Rupesh Jain (Expert)
20 June 2013 AS PER COMPNAY LAW IT IS MANDATORY ACCURAL BASIS
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Querist : Anonymous

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Querist : Anonymous (Querist)
20 June 2013 Now if i have filed my income tax return taking into account of cash basis. So should i revise my return?



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CA Kapil Verma

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CA Kapil Verma (Expert)
20 June 2013 no need to revised , you can continue with different method in different ACT.

but it become practically difficult to do so.
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Querist : Anonymous

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Querist : Anonymous (Querist)
20 June 2013 As on cash basis, i have shown my income lower in the previous year , then i that case i have to revise my return or i have to show that income in the current year as prior year income

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