Dear all
One of my clients who is a manufacturer and covered in the category who are required to audits under section 44AB has lost all data relevant to last year even the soft copy of Income tax return filed for AY 2009-10, due to which I am unable to Fill the information relating to Opening stock (Raw material, WIP and closing stock) Can anybody suggest me the procedure or method of acquiring the same
That would be a real help
Thanks and Regards
Here are a few helful Ques ^_^
Is your client a company - then the annual accounts must be uploaded in MCA website (companies are required to submit annual returns in form 23AC,ACA)
If this is a new client - then who was the previous auditor ? The previous auditor may be approached for a copy of the audited balance sheet
(Im assuming this is a new client, otherwise you must have the audited BS with you)
How did u verify the brought forward balances ? (How are you going to verify the opening balance brought forward?)
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