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Wrong entry in audited balance sheet last year

Kanhu (ACCOUNTS MANAGER) (35 Points)

22 September 2011  

Dear Sir,

Kindly suggest me for My Question

 

i have wrongly entered the amount of income tax in balance sheet last year for 2010-2011 FA in the balance sheet, where as it is wrong because MAT is applicable for the same. & also return was submitted as MAT applicable.

How can rectify the last year balance sheet so that My MAT credit will be created & the amount of Income tax will be debited from reserve & surplus.

 

Kindly suggest me so that i can fill my entries for the year 2011-2012 financial year


 2 Replies

CS Bijoy (Expert) (6394 Points)
Replied 10 October 2011

If the return was filed within the time than revised the return.

CA Rahul Jain (CA) (1152 Points)
Replied 10 October 2011

Originally posted by : CS Bijoy

If the return was filed within the time than revised the return.

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