Audit
This query is : Resolved
28 July 2011
I have a proprietory concern in which in have done a tunrover of 19.00 Lacs for the FY 2010-11.
1. Should my book of accounts be audited by CA?
2. What is the limit to get the accounts audited?
3. Can i prepare & Sign the BS & PL accounts and submit to the ITD?
4. Is it mandatory to file the ITR - 4 electronically?
Please help,
Thanks in advance.
1. Should my book of accounts be audited by CA?
2. What is the limit to get the accounts audited?
3. Can i prepare & Sign the BS & PL accounts and submit to the ITD?
4. Is it mandatory to file the ITR - 4 electronically?
Please help,
Thanks in advance.
Aditya Maheshwari
(Expert)
28 July 2011
1 & 2. required to be audited if turnover exceeds Rs. 60 lakhs or professional receipts exceed Rs. 15 lakhs or in case profit from business is less than 8% of thr turnover and you want to show profit less than 8%.
3. You have to file ITR only. You need not send BS & P & L to ITO.
4. Electronic filing only in case u are liable for tax audit.
3. You have to file ITR only. You need not send BS & P & L to ITO.
4. Electronic filing only in case u are liable for tax audit.
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