Ad-Free CAclubindia and Daily Updates on your mobile. Subscribe Now!

Balance Sheet Audit

02 May 2018

Mera 2017-18 mein turnover 1.96crore hai.Main balance sheet audit krana chahta hun? kya balance sheet audit ho sakti hai.

Reply
Follow
Share

9 Replies

Ashish Bansal (CA) (1036 Points)
Replied 02 May 2018

Under which Act/provision and for what purpose you want the audit done? There are specific requirements and reporting criteria under different laws.

Upgrade to CAclubindia Pro. Subscribe Now!

Pawan Singhal (82 Points)
Replied 02 May 2018

for Bank loan

CA Rashmi Gandhi (Chartered Accountant) (86308 Points)
Replied 02 May 2018

As your turnover is more than Rs.1 crore, you are compulsorily required to get your books audited...

Pawan Singhal (82 Points)
Replied 02 May 2018

hello ma'am, mujhe bank mein business loan karana hai usi ke liye balance sheet chahiye thi. baad mein koi problem to nhi aayegi.

RAJA P M ("Do the Right Thing...!!!") (127911 Points)
Replied 02 May 2018

No more any Provision in Income Tax Return For Bank Loan related...

ITR only based on Your nature of Business income and It's filing process. Bank will be provide loan based on Your ITR and Your Company's other activities...

Upgrade to CAclubindia Pro. Subscribe Now!

CA Rashmi Gandhi (Chartered Accountant) (86308 Points)
Replied 02 May 2018

Sirf loan ke liye audit compulsory nhi hai lekin yaha turnover 1 crore se jyada hai isliye audit compulsory hai .......

Pawan Singhal (82 Points)
Replied 02 May 2018

Thanks ji..

1 Like

CA Rashmi Gandhi (Chartered Accountant) (86308 Points)
Replied 02 May 2018

Welcome...... my pleasure......

RAJA P M ("Do the Right Thing...!!!") (127911 Points)
Replied 02 May 2018

For Based on Bank it's not a matter...

In case a Assessee opt sec 44AD and his T/O is less than 2cr (1.95laksh and applicable business). Then
Bank will be restrict this ITR...?