Filing of ITR by legal representative
Page no : 2
CA Rashmi Gandhi
(Chartered Accountant)
(86477 Points)
Replied 19 June 2022
Ohhh, but from name I think she is female.
sabyasachi mukherjee
(27762 Points)
Replied 21 June 2022
I have the concept of accruals .Let me explain it
1. while financial closing that is in March 2022. I have taken accruals of some expenses which are not yet paid till March. Those reflects in BALANCE SHEET UNDER CURRENT LIABILITIES AND PROVISIONS.
2. INCOME ACCRUALS
THESE CAN BE CONSIDERED ONLY WHEN THERE IS A SALE ORDER WITHIN THE BALANCE SHEET DATE I.E. 31ST MAR 2022 , THE CONSIGNMENTS ARE YET TO BE DESPATCHED.IN THESE CASE SALE CAN BE BOOKED.
IN THESE CASES WE CAN FOLLOW THE CONCEPT OF REVENUE RECOGNITION AS DETAILED IN ACCOUNTING STANDARDS.
1. while financial closing that is in March 2022. I have taken accruals of some expenses which are not yet paid till March. Those reflects in BALANCE SHEET UNDER CURRENT LIABILITIES AND PROVISIONS.
2. INCOME ACCRUALS
THESE CAN BE CONSIDERED ONLY WHEN THERE IS A SALE ORDER WITHIN THE BALANCE SHEET DATE I.E. 31ST MAR 2022 , THE CONSIGNMENTS ARE YET TO BE DESPATCHED.IN THESE CASE SALE CAN BE BOOKED.
IN THESE CASES WE CAN FOLLOW THE CONCEPT OF REVENUE RECOGNITION AS DETAILED IN ACCOUNTING STANDARDS.
Eswar Reddy S
(CFO- at NHTF)
(58275 Points)
Replied 21 June 2022
@ Sabyasachi ,
Are you male or female?
Are you male or female?
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