Consequences of non provision of income tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 December 2013
A Private Limited Company has prepared its financial statements for FY 2012-13 without making any provisions for income tax.
Due to oversight it is already signed by directors and auditors. Signed financial statements are already uploaded on income tax site while filing 3CA return of the company for the same FY 2012-13.
Now the company wants to make provision of income tax by revising the financial statements.
1.Can it be possible for company & auditor to again revise and sign revised balance sheet?
2.What it is the responsibility of auditor if it revise or doesn’t revise? Pls reply as soon as possible
Due to oversight it is already signed by directors and auditors. Signed financial statements are already uploaded on income tax site while filing 3CA return of the company for the same FY 2012-13.
Now the company wants to make provision of income tax by revising the financial statements.
1.Can it be possible for company & auditor to again revise and sign revised balance sheet?
2.What it is the responsibility of auditor if it revise or doesn’t revise? Pls reply as soon as possible
23 December 2013
1. yes you can revise the statements.
2. If it is revised, you may verify the changes made and issue a revised report and ensure the income tax return too is revised and revised tax audit report is submitted online.
2. If it is revised, you may verify the changes made and issue a revised report and ensure the income tax return too is revised and revised tax audit report is submitted online.
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