Tax audit & statutory audit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 June 2012
Respected Experts,
If a CA has done statutory audit of a Pvt. Ltd. company under Companies Act, then is it necessary to conduct Audit again u/s. 44AB of Income Tax Act or Statutory audit report can be produced?
If a CA has done statutory audit of a Pvt. Ltd. company under Companies Act, then is it necessary to conduct Audit again u/s. 44AB of Income Tax Act or Statutory audit report can be produced?
02 June 2012
Audit has to be conducted u/s 44AB and audit report in form 3CA has to be issued in which reference of statutory audit report issued under the Companies Act,1956 has to be mentioned specifically.
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02 June 2012
Good morning Dear
I agree with Mr. B. Chackrpani .
But you have to keep in mind one thing ...
If company's turnover is less than limit specified u/s 44AB than Tax Audit should not be compulsory. Auditor shall conduct only statutory Audit and issue a report.
I agree with Mr. B. Chackrpani .
But you have to keep in mind one thing ...
If company's turnover is less than limit specified u/s 44AB than Tax Audit should not be compulsory. Auditor shall conduct only statutory Audit and issue a report.
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Querist : Anonymous
Querist :
Anonymous
(Querist)
03 June 2012
Thank you B. Chackrapani sir and Mahesh sir.
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