Dear All,
When audit is applicable for Hotel, Bars and Restaurant?
Krutesh Patel
(ACA)
(727 Points)
Replied 01 August 2009
Hello Ankit,
In case of Hotels o Bars, the income from all activities should be considered like lodging, bording, supply of food, etc. In such case if sum of all such income exceeds Rs. 40 laks then they are require to be audited as per Sec 44AB of Income Tax Act.
However, if such hotels or bars are companies, they have to get their accounts audited compulssory.
CAclubindia
