Previou year figures.
This query is : Resolved
16 September 2008
In an audited financial statement (u/s 44AB of IT Act) whether disclosure of previous year figures is mandatory.
S.Srinivasaraghavan
(Expert)
17 September 2008
If it is a company, yes, as the format of P & L is prescribed.
CA. O.P. Agarwalla
(Expert)
17 September 2008
It is not mandatory as per Income Tax Act under section 44AB. However, Annexure-I of Form 3CD requires few figures of preceding year and providing the same seems to be manadatory.
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