Hello ,
Where tax audit not applicable and ITR filed on time before 31st july.
Can AO direct for tax audit on certain grounds ?
then what happend to the loss claimed?
3 Replies
rama krishnan
(12239 Points)
Replied 30 October 2018
yes AO has powers to direct to audit under section 142(2a)
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 30 October 2018
Yes... AO can power for the Tax Audit in some of the certain categories...
Submit Your financial Statements with supportive documents which is required by AO...
No need to worry if You have proper documents.
Submit Your financial Statements with supportive documents which is required by AO...
No need to worry if You have proper documents.
Anonymous
(Business)
(240 Points)
Replied 30 October 2018
Thx. Can tax audit be asked for upto last 6 A.Y. ? One more question the penalty specified for no tax audit done is separate for each A.Y.? If sum of 0.5 % of turnover exceed 1.5 lacs for all previous cumulative A.Y. is that amount of penalty restricted to 1.5 lacs overall for all such previous A.Y.? Similarily 25,000 for non -maintenace of books is max. or its separate for each previous all A.Y.
(Assuming tax audit cases)
(Assuming tax audit cases)
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