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Revised balance sheet

Nilesh Koparde (Hardwork is a key of Success...) (678 Points)

07 June 2012

Dear all,

My friend prepared balance sheet & this balance sheet file in income tax, but he want to change in balance sheet i.e. call as revised balance sheet than any one can tell me about revised balance sheet matter....?

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3 Replies

PRITAM JAIN, CA , CS (Practising CA CS) (398 Points)
Replied 07 June 2012

1) Whether assessee has attracted tax audit or any other audit under any other law

2) whether change in balance sheet has any impact on its total income

Jay Jain (Business ) (27 Points)
Replied 16 October 2012

Dear Sir

I have submited Balance sheet and profit & Loss Account for Induvidual Asese Accounting year 2009-10 alongwith Income Tax Return.

today i realise that Balance sheet whcih was submited have wrong data can i submit amended Balance Sheet in the Income Tax Department.

Please sugest me.

Thanks & Regards

Jay Jain

PRITAM JAIN, CA , CS (Practising CA CS) (398 Points)
Replied 30 October 2012

Balance Sheet or anyother matter in returns can be changed only by revising IT retruns. Date for revising IT returns have already elapsed. Still other ways can be recommended only by studying the particular case.

Thanks

CA Pritam Jain