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Tax audit

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(Querist)
13 May 2009 Is tax audit compulsory for companies even if the turnover doesnt exceed Rs.40 lakhs.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
13 May 2009 No.
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CMA KNVV Sri Vidya - Sri Kanth

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CMA KNVV Sri Vidya - Sri Kanth (Expert)
13 May 2009 no only if it exceeds it ia applicable



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CA.Tarun Maheshwari

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CA.Tarun Maheshwari (Expert)
14 May 2009 Tax audit under Income tax is not compulsory, but statutory audit under companies act is compulsory even if the turnover is zero.
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CA. VIKAS GUPTA

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CA. VIKAS GUPTA (Expert)
15 May 2009 Hi,
if turnover of business enterpirses does'nt exceed Rs.40 Lacs, no tax audit is compulsory irrespective of status.

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