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Prior period item

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Querist : Anonymous

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Querist : Anonymous (Querist)
26 February 2014 Sir,

An institution failed to record TDS which was deducted from its income for the Previous Year. So this was not reflected in the financial statements for the previous year.However on filing IT return for the PY, the amount of TDS was reflected in form 26AS. How can this be recorded in the financial statements for the current year?
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
26 February 2014 as a prior period item book entry.
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