Loan outstanding wrongly entered in last year returns
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 August 2015
One loan repayment entry was not made last year. Hence the loan opening balance in current year (F.Y. 2014-15) does not match with bank loan balance. the entire loan is repaid this year. What can we do? Should we revise the returns this year after making necessary changes?
The assessee is non audit assessee.
The assessee is non audit assessee.
23 August 2015
adjust the entry to Capital account of the proprietor.
No need to revise per se as there is NO any instance of income escaping.
No need to revise per se as there is NO any instance of income escaping.
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