25 September 2016
dear sir, I want to ask you a doubt arise while i preparing financial statement.
suppose i prepared financial statement in 2015 without incorporating of tax & duties in figures shown in profit & loss but in 2016 i want to incorporate taxes also in my financial statement
so please guide me as how will i show figure of 2015 , while preparing FS2016 whether without incorporating tax or with incorporating taxes ?
27 September 2016
In the current year, you can show the show the taxes and duties figure. For this you need to also show the previous year figure as well. You need to incorporate separate notes stating the reason for omission in the previous year and showing the figures in the current year.
CAclubindia
