JAYA NENWANI (Chartered Accountant) (59 Points)
03 September 2012Dear All
My Company was incorporated in October 2010, although the business started frm May 2011. In year 2010-11 there were no business transactions except purchase of fixed assets and issue of share capital. Whether i need to get Tax Audit done for FY 2011-12???
Do i need to file Income Tax return for the same year
Ankit
(CA, CS)
(3064 Points)
Replied 03 September 2012
Tax Audit is required if the turnover (sales) exceed Rs 60,00,000 since there was no turnover, tax audit is not required. however, for a company filing of return is mandatory under section 139
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 03 September 2012
| Originally posted by : Ankit | ||
 |
Tax Audit is required if the turnover (sales) exceed Rs 60,00,000 since there was no turnover, tax audit is not required. however, for a company filing of return is mandatory under section 139 |
 agreed |
CAclubindia
