Audit- manoj rathod
This query is : Resolved
manoj rathod
(Querist)
28 June 2011
res. sir,
pls guide me
a person is proprietor of a proprietory concern & karta of a huf oncern
turnover in proprietory concern is 55 lac
turnover in huf concern is 35 Lac
is audit applicable for the huf & proprietory concern ?
pls guide me
a person is proprietor of a proprietory concern & karta of a huf oncern
turnover in proprietory concern is 55 lac
turnover in huf concern is 35 Lac
is audit applicable for the huf & proprietory concern ?
ABHISEK TOSNIWAL
(Expert)
29 June 2011
Dear Manoj,
In your case audit is not required to be done for the proprietory concern and it is not required for HUF as well as the turnover is not crossing 60 lacs for both of them.
Regards
Abhisek Tosniwal
In your case audit is not required to be done for the proprietory concern and it is not required for HUF as well as the turnover is not crossing 60 lacs for both of them.
Regards
Abhisek Tosniwal
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CA Navin Jain
(Expert)
30 June 2011
I agree with Abhisek..
For your clarity, HUF and individual (proprietor) are two separate persons under income tax.
For your clarity, HUF and individual (proprietor) are two separate persons under income tax.
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