Tax Audit Who Should do it
This query is : Resolved
05 December 2008
Dear all,
When is it mandatory for a private limited company to get tax audit done? and who can do it. Is is necessary that a CA should do it?
When is it mandatory for a private limited company to get tax audit done? and who can do it. Is is necessary that a CA should do it?
05 December 2008
Whenever gross turnover of an assessee, engaged in business,exceeds Rupees Forty Lacs, audit under section 44AB of The Income Tax Act is mandatory irrespective of constitution of the assessee.And the same can be conducted only by a chartered accountant.
05 December 2008
When turnover of company exceeds Rs. 40 Lakhs in case of Business or Recipts exceed Rs. 10 Lakhs in case of profession , then it is neccessary to get its accounts audited as per Section 44AB of Income Tax Act.
Tax audit u/s 44AB of Income Tax Act can be done only by a Chartered Accountant.
Tax audit u/s 44AB of Income Tax Act can be done only by a Chartered Accountant.
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