Omission of recording purchase
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 August 2011
If purchase of p.y. 2009-10 has been omitted in yr. 2009-10. What should i do to give that effect so that party a/c is balance in my a/c??? what r the consequence and tax effect, if any, in p.y and current year
05 August 2011
This depends when the goods were received. In case it was received earlier and awaiting inspection report and you have not entered in the books then it can be entered right now and your party account will be in agreement with it. If the assesing officer asks for any details then given with reconciliation
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