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Change of Rate of Depreciation
If rate of dep wrong charge on a assets and audit is completed that year how to solve it in subsequent year for proprietary business.
Replies (5)
You may consider as prior period item and adjust the balances of Asset
Prior period item disclosure is one aspect you must slso consider the materiality of the transaction . pls post materiality of the transaction. I mean to say what would be the implications on the balance sheet of the organisation
What I do at time of ITR Filling?
Do adjustment in accounts and do ITR filing based on accounts
Itr filing is nor pertinent here.
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