Hy, i have turnover of 2lac and make loss of 50k do I need to audit account I don't have any income source. I am student and got scholarship of 1 lac and invested in fno. Or when I need to audit my account suggest me about these please.

Dear Sir
as per the requirement, we have to obtain an MSME certificate from the creditors, so kindly explain how we know from which creditors should we get the certificate or not.

Whether getting a certificate once a year or any deadline is required.

Kindly explain the query regarding Audit purpose only.

whether tax audit is applicable in case of P'firm/ Pvt Ltd having no profit or loss?
Is the loss including of Remuneration and Interest paid to partners?

Dear Experts
My query are -1. Tax audit limit for a partner ship firm, the source of income of the firm is commision on sale of vegatable & fruits on consignment sale.
2. Any TDS liablity on freight paid on the behalf of consginer
3. Cash payment limit to consigner and transpoter against consignment sale of vegatable and fruits.

thanks to all experts for reply.

Assessee is Partnership Firm,
Turnover is 1.5 cr,
Profit is 6.39% after partner's remuneration.
Cash Receipts and Cash Payment below 5%
they got a notice u/s 139(9) as defective return that books of accounts should be audited.

Please advise we require the books of accounts should be audited u/s 44ab

“Auditor may be removed before expiry of his term” here what do you mean by “term” whether one year or five year or time between agm?

Hi All,
I have registered a new company. I would like to know what are the post incorporation must have. I do not expect any major transactions in the business at least for a year. What are the must do form submissions apart from ADT-1 to ensure compliancy ?

Dear Experts,

I want to understand about an Audit applicability for F&O trading in different cases as posted. Please share your expert views to come out of the biggest confusion.

Sr. No. Condition (A) (B) Audit Applicability
(1) Incase Profit (2) Incase Loss
1 F&O Turnover Below 1 Cr
2 F&O Turnover Above 1 Cr but Below 2 Cr
3 F&O Turnover Above 2 Cr but Below 10 Cr
4 F&O Turnover Above 10 Cr

Hey team,
I am an NRI and have professional income in India this year.
Since, 44ADA is not applicable to me, I want to claim deductions on my professional income (not more than 50%).

Is auditing also required along with bookkeeping in my case?

what will be consequences in case filling trust return after due date?