Demand for balance sheet reconcillation
This query is : Resolved
ritesh kumar tiwari
(Querist)
16 April 2016
What is balance sheet reconcillation? And how it wil be prepared.
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Suresh Ramaswamy
(Expert)
17 April 2016
The Service Tax Department has to reconcile the turnover declared in ST - 3 Returns with various other documents submitted by the Assessee. The Audited Accounts are filed with the Registrar of Companies. The Turnover is declared in VAT and Income Tax Returns also. Then there is the TDS details reflected in 26 - AS form.
It is found that the figures in each of these documents is different. Balance Sheet reconciliation aims at reconciling the figures shown in ST - 3 Returns with the figure shown in the audited accounts. The procedure for reconciliation is simple + / - as per normal noms.
It is found that the figures in each of these documents is different. Balance Sheet reconciliation aims at reconciling the figures shown in ST - 3 Returns with the figure shown in the audited accounts. The procedure for reconciliation is simple + / - as per normal noms.
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ritesh kumar tiwari
(Querist)
18 April 2016
Thanks sir but is there any format for b/s reconciliation .
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