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when turnover is 50,00,000, profit 3,00,000(Less than 8%), books of account properly maintained, should the Audit applicable(Partnership / Individual)? if yes then which section? is form 3CB-3CD is to be attached with ITR 4? is form 3CB-3CD to be submitted electronically in above case?
Please Help.
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A partnership doing business having turnover of Rs. 40,00,000 /- They incurred loss of Rs. 1,80,000 /-. There is no provision of Remuneration to partners or Interest on capital to partners.
My querry are
( 1 ) Whether the firm is subject to Tax Audit u/s 44 AB read with Sec. 44 AD ?
( 2 ) What will the effect of audit if the same being individual case ? No deductions are there under chapter VIA ( e. g. Sec. 80 C ).
This Query has 2 replies
dear sir, please tell me the simple steps to check expense during the audit
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if a person having professional income as 5 lacs and job works business income as 25 lacs is he applicablefor audit ??
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Any 1 pre requisites for doing company tax audit
This Query has 4 replies
i m having a partnership firm whose turnover is Rs. 77 lacs for f.y.2012-13 but incurred a loss of Rs. 15 lacs being first year. whether audit u/s 44 AD is applicable and loss can be carried forward if i file return before september-13.
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Sir/Madam, I hav been offered INTERNAL audit department for Articleship?? Should i join? Please help me
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Dear Sir.
Please Tell me sir my question is my company turnover upto 55 lakh and GP upto 9% and Net Profit upto 6.5% it will be come under tax audit or not please tell me now. I am from Kanpur U.P.
please sir help and tell me my firm is auditable or not.
Thank and regard
This Query has 4 replies
Dear Experts,
One of my Client is having a cloth manufacturing business (Kids Wear). Its Turnover during FY 2012-13 is Rs. 3 Crores. He is also running one more proprietorship business of Courier with a separate Trade Licence and its turnover during the year is Rs. 19 Lakhs. So whether both the business needs to be Tax Audited OR only the cloth business. Please clarify?
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If there are no transactions during the year in the account of unsecured loans/deposits, (i.e. opening balance is equal to closing balance and no transactions), is it required to be reported in clause 24 of Form 3CD? There is no amount accepted or repaid during the year. Is it needed to be reported in 3CD? If yes, how? Thank you in advance.
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Applicable to 44ad