Tax audit applicability

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Querist : Anonymous

Querist : Anonymous (Querist)

20 August 2016 Dear All,

Just want to know tax audit applicability in case of Pvt ltd co's.I am running a construction company having turnover 46 lac and net profit of Rs 2 lac. do i need to get tax audit done under income tax act.

Does condition of 8% NP u/s 44 AD is applicable to pvt ltd also.

Thanks in advance

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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20 August 2016 Yes it is applicable to pvt ltd also. So tax audit applicable.

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

20 August 2016 Sir similarly , i asked a few days back for pvt ltd Media company having turnover of R 25 Lac and profit of Rs1.5 lac. The expert in ca club India suggested that no Tax audit applicable on it .

Please reconfirm

Querist : Anonymous

Querist : Anonymous (Querist)

20 August 2016 Dear Sir,

Just checked with someone , He told me 44 AD is not applicable to pvt ltd co's and tax audit not applicable to construction co. mentioned above

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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20 August 2016 I agree with you as 44AD is not applicable to pvt ltd co's tax audit not applicable.