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Tax audit

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Querist : Anonymous

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Querist : Anonymous (Querist)
13 December 2012 company audit is compulsory as per company law but is it also compulsory as per income tax act as if there is any profit or not?
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Dintakurthi Tirumala

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Dintakurthi Tirumala (Expert)
13 December 2012 If the turnover of the company exceeds as specified limit u/s 44AB of IT act then only Tax audit compulsory otherwise it is optional.

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Sanket

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Sanket (Expert)
13 December 2012 Yes u are right that Company audit is compulsory as reps compan audit. But income tax audit is compulsory subject to section 44AB of the act...
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