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?

When i do reporting in the currency chest audit by mistake not verified is there how i solve this

To
Fellow members
As per Companies Act 2013 Auditors Report should signed by the Statutory auditors.
We noticed that Financial Statements(B/S, P/L, cash flow statements etc) signed by two directors on behalf of the Board and CS &CFO(if any) and also by Stat auditors.
My query is : Is there any legal provision(s) which made the auditors to sign the Financial statements.
More particularly what is the legal logic, on the basis of which auditors signed the Financial Statements.
All fellow members opinion is sought for.
Regards
Abhijit