CA Day celebration 2024 Easy Office
LCI Learning

TAX AUDIT

This query is : Resolved 
Profile Image

Profile Image

(Querist)
03 September 2010 If an assesse has income from buisness of about Rs 38Lakhs and VAT collected of Rs 3 Lakhs should his books of accounts be audited
Profile Image

Arun

Profile Image

Arun (Expert)
03 September 2010 VAT is a Statutory Due. Not a turnover.
Profile Image

Aditya Maheshwari

Profile Image

Aditya Maheshwari (Expert)
03 September 2010 Two views are there on the same.

As per guidance note on tax audit issued by the institute turnover does not include VAT whereas as per Section 145A of the Income Tax Act sales should include VAT.
Upgrade to CAclubindia Pro. Subscribe Now!


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CA Day celebration 2024 with Tally CCI Pro

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links