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

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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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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