If private limited company provides professional services to his clients and turnover of services is 49lac and profit is 17 lac (approx 34 percentage on turnover) in this case Tax audit is mandatory or not???
One of my client's turnover is more than Rs. 10 crs. and paid up share capital is more than Rs. 1 cr. but they dont have any loans outstanding at the end of the year.
Whether CARO and Internal Financial Controls will get applicable to such a Private Limited Company?
Thanks in advance
If pvt ltd turnover was 80 lac and they had filed tax audit report in last A.Y. 2019-20. so if this year turnover is 48lac so this year tax audit is also compulsory?
I am a senior citizen having pension and other income OF RS 3.20 lakhs( after availing tax rebate under 80 C, 80D, TTB etc)during durrent FY 2020-2021 . I have done share trading transactions ( delivery and intra day) with a turnover of Rs 76 lakhs from 1st april 2020 till 31st december 2020 earning a business income of Rs 1.35 lakhs. This will offset a carried forward loss of 65000/- from last financial year.
my query is : SINCE THE SHARE TURNOVER IS LESS THAN 1 CRORE AM I LIABLE TO HAVE MY SHARE ACCOUNTS AUDITED BEFORE FILING ITR 3 FOR FY 2020-2021, despite my other income exceeding tax exemption levels ???
I am getting confusing answers from my CA qualified friends. Please quote the rule and kindly help me with a correct clarification. Please reply to : firstname.lastname@example.org
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Sir i have a large amount of negative cash in b/s what can i do to resolve it
It's kirana wholesale account
Maximum debtor are realised and sold him as B2 C NATURE
As of now No official Due date extension,
Can we still expect the due date extension,
Sir if a company ABC Pvt Ltd has 30% stake in another company XYZ LTD which is applying IND AS, does ABC Pvt Ltd have to apply IND AS?
Audit of LLP if T/o more than 40 lakhs or Contribution more than 25 lakhs
Whether Fixed and Current capital both to be considered for this limit..
Whether notes to accounts contain signature of the directors?
Thanks in advance
Individual or Partnership Firm has Audited u/s 44AB his books in 2018-19 due to net profit below 8% having turnover 80L. Now in 2019-20 turnover is 90L and profit is below 8 % then Audit is required or not in 2019-20??
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