pvt ltd company
Rahul Singh (32 Points)
16 September 2018
If Pvt Ltd Company turnover is 11 lac in 2017-18 then income tax audit is mendetory or not
7 Replies
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 16 September 2018
No need under income Tax.
Santhosh Gundinahole
(Studnet)
(347 Points)
Replied 16 September 2018
Companies Act doesn't deal with income Tax Audit, you need to follow provisions of IT act
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 16 September 2018
Yes... Audit required Under Companies Act.
Companies is must audited under companies act irrespective of Turn Over...
So, Income Tax Audit not required based on companies Audit.
Companies is must audited under companies act irrespective of Turn Over...
So, Income Tax Audit not required based on companies Audit.
Santhosh Gundinahole
(Studnet)
(347 Points)
Replied 16 September 2018
He is asking Income Tax Audit under companies Act,
As far as I know, companies Act doesn't have any provisions wrt income tax audit.
Following audits are covered under Companies Act.
Statutory Audit
Secretarial audit u/s 204
Cost audit u/s 148
As far as I know, companies Act doesn't have any provisions wrt income tax audit.
Following audits are covered under Companies Act.
Statutory Audit
Secretarial audit u/s 204
Cost audit u/s 148
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 16 September 2018
My 1st reply to this one :
(If Pvt Ltd Company turnover is 11 lac in 2017-18 then income tax audit is mendetory or not)
-- No need under income Tax.
My 2nd reply to this one :
(audit under companies act)
-- Yes... Audit required Under Companies Act.
Companies is must audited under companies act irrespective of Turn Over...
So, Income Tax Audit not required based on companies Audit
(I'm. not crossed your reply. Bcoz, The both replies posted same time. So, Your reply posted 1st then my reply).
(If Pvt Ltd Company turnover is 11 lac in 2017-18 then income tax audit is mendetory or not)
-- No need under income Tax.
My 2nd reply to this one :
(audit under companies act)
-- Yes... Audit required Under Companies Act.
Companies is must audited under companies act irrespective of Turn Over...
So, Income Tax Audit not required based on companies Audit
(I'm. not crossed your reply. Bcoz, The both replies posted same time. So, Your reply posted 1st then my reply).
Rahul Singh
(32 Points)
Replied 16 September 2018
sir what should the net profit percentage in Pvt Ltd Company.
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