A company has capitalised some assets in a wrong period. For example assets should have been capitalised in Financial year 2013-14 but capitalised in FY 2014-15.
What should be implications in income tax and companies act both?
A company has capitalised some assets in a wrong period. For example assets should have been capitalised in Financial year 2013-14 but capitalised in FY 2014-15.
What should be implications in income tax and companies act both?
1. True and fair view of the financials will get affected.
No other effect will take place
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