Mistake in Last year Financial & Tax audit

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CA. Naveen Jain (Querist)

25 September 2010 a co-op society whose tax audit of A.Y 2009-10 was done by another CA, there was a mistake in the report. Actualy the society has two bank accounts but in last year Balance sheet only bank account is mentioned and other bank account balance of Rs. 47500/- is not mentioned.

Now I have to do the tax audit for this A.Y 2010-11.
Pls tell what disclosure in this regard I should mention in my tax audit report.

How Can I justify the balance of last year.

Pls guide

CA Navin Jain

CA Navin Jain (Expert)

25 September 2010 both A.Y. year are separate you need to disclose actual bank balance as on 31.3.2010 and u not need to justify last year bank balance.

CA. Naveen Jain

CA. Naveen Jain (Querist)

25 September 2010 but sir due to not taking into account that bank a/c the financial of last year are not correct.

Then how can the opening balance take

CA Navin Jain

CA Navin Jain (Expert)

25 September 2010 bank A/C DR

TO reserve & surplus

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