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.
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.
CAclubindia
