Final accounts
Deepika (Account) (62 Points)
25 July 2016
Write off of indirect income in current year.If this will be shown as prior period item?
CA Uday Kiran
(Chartered Accountant)
(653 Points)
Replied 25 July 2016
Indirect income....?
There is no nexus between indirect income and prior period item. If you make any error or ommission in the previous years you can treat the item as prior period item.
So you cannot treat the indirect income or undisclosed income as prior period item
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