Naina (CA Student) (477 Points)
23 July 2010While going through a tax audit of a partnership firm for year 2009-10, I looked their balance sheet and profit & loss a/c of the last year (2008-09). Their gross receipts were more than Rs. 40 lacs in 2008-09, but they didn't get accounts audit. Now they are getting their audit for year 2009-10, for the first time.
Now in Audit Report for 2009-10, does this have any implications. Please guide.
shyam sundar
(Article Assisstant)
(183 Points)
Replied 23 July 2010
This doesnt have any implication on current year, but when we are giving comparititve analysis for current year with previous year in the report then it will be very well found out.
by which penalty for violation for sec 44 AB will be levied.
| Originally posted by : shyam sundar | ||
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This doesnt have any implication on current year, but when we are giving comparititve analysis for current year with previous year in the report then it will be very well found out. by which penalty for violation for sec 44 AB will be levied. |
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