NPA accounts closed after 31st March, before finalization of accounts –
Can major recoveries received in live NPA accounts after 31st March but before finalization of books and NPA account is closed , be considered as of 31st March.
Menu
Events occurring after balancesheet date.
Replies (2)
When you are having prior information regarding "Major Recoveries" on 31st March...then you can adjust in accounts before finalization as it is called "Adjusting Events".
If you dont have information on 31st March...and afterwards it occures then you have to disclose it by notes.
thx... even i thought so...
just wanted to confirm it.
Recent Threads
- Timing difference in availment of ITC reporting in
- Import of goods and igst related
- DGFT licence port mismatch with Postal (PAD) impor
- Tax on sale property (Land)
- Recruitment for Jr.Accountant.
- Refund of tax paid earlier
- WHY and which ITR just to declare company shares ?
- Contribution to political party
- 40+ single CA group
- Interest u/s 234B on updated return u/s 139(8A)
Related Threads
CAclubindia
