Hi,
I have a query. Is the tax audit of a individual is audit of the person or the business? Do I need to discose assessee's personal assets(eg- car,house) in the balance sheet when doing tax audit of his proprietary business.
Please advise. Thanks.
2 Replies
Hitesh
(Student)
(3549 Points)
Replied 21 October 2018
Tax audit is the audit of business. Hence we need not disclose assessee 's personal assets while doing tax audit
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