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RETURN ACCOUNT & AUDIT

This query is : Resolved 
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(Querist)
23 March 2010 WHEN THERE IS NO INCOME, LOSS PROFIT, TRANSACTION,

THEN IS
A FIRM
A COMPANY

IS LIABLE TO
FILE RETURN ?
MAKE ACCOUNT ?
CONDUCT AUDIT ?
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CA Ashok Kumar Sahu

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CA Ashok Kumar Sahu (Expert)
23 March 2010 file return & make accounts are compulsory.

normal audit under co. act require to every co. no such provision for firms

but Tax audit is required only when turnover cross the limit of 40lac(60lac for 10-11)

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