My Actual Loss as per Accounts:Rs. 385000/- which is under misc assets under profit & loss account.
As per IT computation and due to permanent difference (disallowance u/s 40 a (ia) and 36 (1) va) and depreciation difference my loss (to be carryforward) came down to Rs.121700/- now pls suggest if any adjustment in accounts needed
My query is will that Rs.385000/- in accounts still stay under misc assets under profit & loss account.
pls suggest if any writeoff needed in accounts pls suggest the consequences and adustments under both acts and find me the solution in the current year to file our IT return. thanks in advance for all the members here.
CAclubindia
