Tax audit applicability
This query is : Resolved
15 September 2014
If there is no turnover and only work in progress...is tax audit applicable?? what does turnover includes for calculating limit of tax audit?
15 September 2014
Turnover does not include Work-In-Progress. If turnover crosses Rs 100 Lacs only then Tax Audit Applicable.
For definition of Turnover see page no 20 of Guidance Note on Tax Audit -Revised edition 2014 from link given below:
http://220.227.161.86/34728gn-taxaudit-dtcicai.pdf
For definition of Turnover see page no 20 of Guidance Note on Tax Audit -Revised edition 2014 from link given below:
http://220.227.161.86/34728gn-taxaudit-dtcicai.pdf
16 September 2014
Agree withSanjqy sir, turnover does not include wip
16 September 2014
* Sanjay Sir
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Is online PGCE worth it?
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
