14 April 2011
Hello.. I want to ask about the mistake committed by an accountant who wrongly classified the purchase of an asset as the normal purchases of the business and the return has also been filed in the month of september 2010 for assessment year 2010-11. I just want to ask that as they now are known about the mistake they made and want to show the purchase as fixed asset as the reality is. What is the solution to this problem?? If they need to post a rectification entry and submit a revised return for asst. year 2010-11?? Or there is any other way?? Please suggest. Thanks
CAclubindia
