Hi friends,
I want to know that how a audit can be performed of a firm in which proprietor is a company and firm is currently established i.e. in year July, 2009. and a company is also under construction. No transaction was made during the year
So what is the taxation system in case of such firm and can the firm claim expenses of proprietor company?
If the gestation period is big and some asset or factory is being constructed then capitalise all the expenses incurred during the year.
PARV & Co.
New Delhi
CA Inter
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CA ANOOP P K & ASSOCIATES
Kozhikode
CA Inter
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CCI
Pro
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