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Company has not commenced the business

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28 June 2014 A private limited company registered in F.Y 2013-14 but has not yet commenced the business?Is the Company required to be audited? Is there any penalty for not commencing the business ?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
28 June 2014 audit is compulsory irrespective of whether the company has started the business or not.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
15 July 2014 yes he is correct..................................
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