Audit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 December 2014
i filing ITR and banks asking account audited are no and How toknow audited are no iam running a electronic business and trading online sole propriter
23 December 2014
Sir,
you are running a Prop. /Partnership firm or a Co????
nature of Business???
you are running a Prop. /Partnership firm or a Co????
nature of Business???
23 December 2014
In case of audited accounts your auditor will provide you audit report and financials certified by him and you.
23 December 2014
If your Gross turnover in the f.y 2013-14 has exceeded Rs. 1 Crore than you require tax Audit otherwise not.
Further Have you taken Loans from Banks.
If you have taken loans from banks and your Tunover is less than 1 Crores Rs. than also you should make the Audit of Bal Sheet from a CA doing practice.
Further Have you taken Loans from Banks.
If you have taken loans from banks and your Tunover is less than 1 Crores Rs. than also you should make the Audit of Bal Sheet from a CA doing practice.
23 December 2014
if you turnover during the year exceeds rs. 100 lacs then you have to get audit report from the CA u/s 44AB. or you are trader then you are filing return with net profit below @8% u/s 44AD of the sales then you have to get the audit report otherwise not required.
23 December 2014
Rupesh Sir,
I would add on
As per my vier Retails are covered under Section 44AF.
Case-I
If you are retail Trader and having Profit exceeding or equal to 5% -No Tax Audit irrespective of your Turnover exceeding Rs. 100 Lacs as you are covered u/s 44AF.
Case-II
If you are retail Trader and having Profit less than 5% - Tax Audit u/s 44AB.
I would add on
As per my vier Retails are covered under Section 44AF.
Case-I
If you are retail Trader and having Profit exceeding or equal to 5% -No Tax Audit irrespective of your Turnover exceeding Rs. 100 Lacs as you are covered u/s 44AF.
Case-II
If you are retail Trader and having Profit less than 5% - Tax Audit u/s 44AB.
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