Tax Audit- urgent

SHAILY GUPTA (TAX CONSULTANT) (106 Points)

29 September 2016

How to conduct audit when no books of account maintained by assessee n Turn over exceeds 1 crore?? Plz help urgently

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5 Replies

Venkatesh Dangeti (CA Final) (881 Points)
Replied 30 September 2016

Ask management to prepare Books of accounts.Aren't they liable to VAT??

Venkatesh Dangeti (CA Final) (881 Points)
Replied 30 September 2016

or prepare their books of accounts using bank statements , 26AS etc

SHAILY GUPTA (TAX CONSULTANT) (106 Points)
Replied 30 September 2016

They also are liable for vat bt didn't take any registration

Venkatesh Dangeti (CA Final) (881 Points)
Replied 30 September 2016

It looks like risky

SHAILY GUPTA (TAX CONSULTANT) (106 Points)
Replied 30 September 2016

Plz give me suggestions whtevr possible

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