One of my client(being company,Pvt Ltd) has sold land in march and subsequently paid the capital gains on it and filled the return in september.
But in October the registrar has cancel the sale of land.
What will be the treatment of the same in the books of accounts, at Auditor's Report and in Income tax law.
Please help me out on this...its an urgent!!
Please Revise the return and cliam tax refund of cap. gain.
In auditor's report,reference can be made to SA-560 Subsequent Events.
In books of accounts, comply the Provisions of AS-4
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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