Audit applicability

This query is : Resolved

CA Kalpesh Patel (Querist)
Follow

27 June 2014 if an individual having 2 independent proprietory business and the turnover of one business is 52.00 lakhs and another is 49.00 lakhs and if, 1) he declare profit in both business more than 8% is audit applicable.? 2)he declare profit under 8% in both the business than audit is applicable..? 3) he declare profit in one business above 8% and in another below 8% than what will be the circumstances for audit..? as of now the audit report is to be uploaded online so if. 1) auditor is one how can he upload audit report ..Combine business or separately upload.. 2) if auditor for both the business are different than how they deal with that..? thaks for ur time...

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

28 June 2014 in all the cases the audit shall apply...the turnover is to be looked at cumulatively...under proprietor business, you dont treat different businesses by same person separately.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Manish Tiwari

rajkumar yadav

THUSHAR MURALI KRISHNA

Abhishek Kabra

ASHOK KUMAR TEKURU

Subscribe Now

Audit applicability

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA