Audit

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 September 2012 Company came into existence in March 2011 then can statutory audit be done for 13 months from March 11 till 31 march 2012.And tax audit 44AB provision will be applicable. If yes then how ?

Amol S Joglekar

Amol S Joglekar (Expert)
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22 September 2012 yes, the statutory audit may be done for FIRST year. Same way TAX audit may be conducted. (The normal presumption in such cases is that being incorporated in March 2011, company might not have incurred any sales)

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