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audit u/s 44AB

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Querist : Anonymous

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Querist : Anonymous (Querist)
20 January 2011 Which period shall be audited in case a company is following a financial year different from the previous year?!
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Sunil Kr. Sanganeria

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Sunil Kr. Sanganeria (Expert)
20 January 2011 As per Income Tax you have to prepare accounts and get them audited as per financial year even if a company follow accounting year other than a financial year.

You have to prepare two sets of acount one year followed by the company for the purpose of Companies act and other for Financil year as per Income Tax Act.
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