audit of a new company which has not commence its business
This query is : Resolved
ramvir s chahar
(Querist)
29 May 2014
A new company was incorporated in June 2013, But it has not done any business during FY 2013-14. Only share capital of rs.100000/- has been deposited in company account.
From FY 2014-15, company has commenced its business.
please clarify,
What is need of audit for 2013-14?, when we asked some firms, their charges are too high for no work that we have to close the company and go for other form of business, like proprietorship or LLP. what should we do in this situation.
From FY 2014-15, company has commenced its business.
please clarify,
What is need of audit for 2013-14?, when we asked some firms, their charges are too high for no work that we have to close the company and go for other form of business, like proprietorship or LLP. what should we do in this situation.
Nikhil Kaushik
(Expert)
29 May 2014
you may choose to form another entity. but as long as the company exists, the audit is compulsory.
Rupesh Jain
(Expert)
30 May 2014
you have to take the audit of your company under the company act. ti is compulsory and to file the return with ROC.
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