Is the Auditor required to report the income u/s 41(1)(a) in 3CD, even if the company has declared the same in its P/L?
NISHA AGARWAL (Chartered Accountant) (454 Points)
03 June 2022Is the Auditor required to report the income u/s 41(1)(a) in 3CD, even if the company has declared the same in its P/L?
NISHA AGARWAL
(Chartered Accountant)
(454 Points)
Replied 03 June 2022
Thank You so much for the reply.
Can you please also tell how this income should be reported in ITR 6?
Concern being, The amount is already included in the P/L A/c. And when we report the respective amount u/s 41 in the income tax return, it results in double taxation of income. And if we don't, then we receive a proposed adjustment notice.
What should be done?
CA Aakarsh Jain
(CA)
(10216 Points)
Replied 03 June 2022
CA Rashmi Gandhi
(Chartered Accountant)
(86243 Points)
Replied 03 June 2022
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