Is Tax Audit u/s 44AB required for carry forward of Losses of a COMPANY whose turnover is less than Rs. 1 crore?? If yes, then under which provisions. I belieave section 44AD is not applicable to a Company.
1 Replies
Jignesh Jain
(CA)
(59 Points)
Replied 17 August 2017
sec 44ad not applicable for company, so even if profit is less than 8% including loss tax audit isn't required
however statutory audit is required in any case
however statutory audit is required in any case
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