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Audit report and ITR of Debtor

08 March 2021

one persom has sold goods to a party worth 33 Lakhs in a year and 29 Lakhs in second year.

Now the debtor is not paying money even after multiple requests for payment. My party want to file case against the debtor but before they want to know how much amount the debtor has shown as due to my party.

How can i get ITR and audit report of the debtor of my party. Can i file a RTI application in this regard??

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4 Replies

CA. Sourav Sarkar (Chartered Accountant ) (24578 Points)
Replied 08 March 2021

Send a confirmation request to the debtors along with all the details of invoices and documents of sale. After receiving the confirmation you will get a certain information on the balances showed by the debtors. If the debtors don't reply to your request then you can go for court proceedings or file a petition or charge an demand order on the debtors

Rohan Bagra (91 Points)
Replied 08 March 2021

The party want to check what amount the debtor is showing in his accounts and audit report.
Party want to file a court petition too but they will not do anything before knowing the amount due shown by the debtor in his accounts.

i want to know how the party can get debtor's ITR and audit report.
Confirmation letter cannot be asked due to dispute between both the parties.

CA. Sourav Sarkar (Chartered Accountant ) (24578 Points)
Replied 08 March 2021

You can file peitition on the basis of the party's documents and invoices or go for winding up process of debtors

Spurto Consultancy Services (Consultant) (1891 Points)
Replied 08 March 2021

You can get the Audit Report of the Debtors from MCA website if its an LLP or a Private Limited Company. But we don't think so there will be any such figure on the face of the balance sheet.

Account confirmation is the most suitable option.