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Wrong method of accounting in income tax return.

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Querist : Anonymous

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Querist : Anonymous (Querist)
23 March 2012 for the AY 2011-12 we have written Mercentile System of Accounting instead of Cash syatem First year of income tax return?

What to do.
Will it may have any impact on my assessment.
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C A S.S.Agarwal, M.Com.,LL.B,

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C A S.S.Agarwal, M.Com.,LL.B, (Expert)
24 March 2012 If you have filed the return in time then the same can be revised. If you do not want to do so then in the next year you have to state the impact of the change in method of accounting
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