Asset Purchased debited to purchase account

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

03 March 2010 Sir,
If inadvertently a purchase of fixed asset is treated as purchases and return filed claiming full deduction then , what would be its tax consequences . ( Return Filed Within Time )

CA. B.SRINIVASULU

CA. B.SRINIVASULU (Expert)
Follow

03 March 2010 What is the value of the asset. Based on value you should act upon. If the value is more file revised return. If the value is very less pass journal entries this year.

Querist : Anonymous

Querist : Anonymous (Querist)

03 March 2010 Sir if tax audit applicable to the firm then can the return be revised ????

CA. B.SRINIVASULU

CA. B.SRINIVASULU (Expert)
Follow

03 March 2010 Yes. The return can be revised.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
Follow

03 March 2010 Revise the return is best

CMA Arif Farooqui

CMA Arif Farooqui (Expert)
Follow

04 March 2010 file revise return

Querist : Anonymous

Querist : Anonymous (Querist)

05 March 2010 Sir ,
If it is a case of a pvt ltd company , and roc annual returns have been filed ... can the return still be revised .

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Srikanthan S

Jayanti Visani

Vishal Dave

Ahamed Kabeer

svgovindaraju

Subscribe Now

Asset Purchased debited to purchase account

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA