Audit
This query is : Resolved
13 September 2017
Sir,
My one client turnover below rs. 1 Crore and also declare income more than 8% of turnover. but he still wants to audit his account. can we do so? if yes, then under which section it would be audited? please reply fast?
My one client turnover below rs. 1 Crore and also declare income more than 8% of turnover. but he still wants to audit his account. can we do so? if yes, then under which section it would be audited? please reply fast?
13 September 2017
As per me audit is not possible under income tax act for your client under income tax act, rather he can carried out audit of its own motion but he is not required to file the audit report to any statutory body
13 September 2017
There is no provision in IT for audit in such cases as no provision of Sec 44AB is fulfilled in given case.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Off Market debit and credit transaction
- Itr 1 processing
- Showing Gift from relative in ITR for this year
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR selection for salaries and capital gain less than L
- ITR returnFY25-26
- ITR 2 Short Term gain & Long term gain
- Share accounting-->fifo - capital gain - period as per fifo?
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- ITR 1: Details for showing Exempt Income
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
