Audit report required by bank
This query is : Resolved
Aslam Khatri
(Querist)
15 October 2013
sir,
i have filled return of AY2013-14 of individual whose t/o in the previous year 2012-13 does not incresed 1 caror and NP % is 10%. on 30-09-2013.not applicable to audit.but the assesee taken cc of rs 50 lacs. and bank demamded audit report.but the assesee is not liable to audit. plz giv solution of above matter.
i have filled return of AY2013-14 of individual whose t/o in the previous year 2012-13 does not incresed 1 caror and NP % is 10%. on 30-09-2013.not applicable to audit.but the assesee taken cc of rs 50 lacs. and bank demamded audit report.but the assesee is not liable to audit. plz giv solution of above matter.
CA Mehta Ankur N.
(Expert)
15 October 2013
Solution is in your question. Whatever you have explained in question that you have to explain to bank that assessee is not covered under audit so there is no audit report.
Thats d only solution. Give on your letter head that assessee is out of pirview of audit u/s 44AB of the Income Tax Act'1961.
Thats d only solution. Give on your letter head that assessee is out of pirview of audit u/s 44AB of the Income Tax Act'1961.
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Aslam Khatri
(Querist)
15 October 2013
thank u sir for reply
sir we exlain the above matter but the manager forced us have to provid report otherwise pay cc of rs.50lacs. manger not understand our argument.
sir we exlain the above matter but the manager forced us have to provid report otherwise pay cc of rs.50lacs. manger not understand our argument.
Aslam Khatri
(Querist)
15 October 2013
sir audit is not applicable so how can v provide report.
CA Mehta Ankur N.
(Expert)
15 October 2013
Then complain for the same to higher authority or tell that illiterate manager to go & study the thing.
Tell him that we will go to forum for this thing. Give the matter in writing & he have to accept it.
Tell him that we will go to forum for this thing. Give the matter in writing & he have to accept it.
Aslam Khatri
(Querist)
18 October 2013
okk thank u sir
Swati Agarwala
(Expert)
08 August 2014
Hi Aslam.The same situation has occured with one of the client.how did you solve the issue.please reply
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