Audit u/s 44ad
This query is : Resolved
09 August 2013
A COMPANY HAVING TURNOVE LESS THAN 1 CRORE AND NET PROFIT OF RS 50,000
IS COMPANY REQUIRED TO BE AUDITED U/S 44AD?
OR UNDER INCOME TAX ACT
IS COMPANY REQUIRED TO BE AUDITED U/S 44AD?
OR UNDER INCOME TAX ACT
09 August 2013
if profit is shown less then 8% then it is required to be audited u/s 44AD.
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09 August 2013
sir section 44AD IS NOT APPLICABLE ON CORPORATE ASSESSEE
09 August 2013
it is optional and not mandatory to any1 who is not liable to tax audit u/s 44AB.
09 August 2013
is there any prescribed format for audit of accounts under companies act?
09 August 2013
yes, Company Auditor report order (CARO) rules as per companies rules is applicable format.
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09 August 2013
THAT MEANS IN THE ABOVE CASE.. I DONT HAVE TO PREPARE FORM 3CD?
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