filing of a income tax return

This query is : Resolved

mohan rao (Querist)
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31 December 2008 dear Sir,

is it every company is liable to Tax Audit ?

Even the Company is under progress of Capital Asset Formation to Construct a building for operations.

There is no turnover for the company

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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31 December 2008 If there is no turnover,report in form 3CA need not be furnished. Hence tax audit u/s 44AB do not apply.

CA Tilak Raj Sharma

CA Tilak Raj Sharma (Expert)
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31 December 2008 Tax audit is only applicable if turnover exeeds 40lakhs or other condition given in section 44AB qualifies.

Every Company required to get it accounts audited as per company act not as per income tax act.

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