A private limited company has profit before tax and loss after tax due to MAT credit utilisation. In the opinion paragraph of the Independent Auditors' Report, under the comment about statement of affairs of the company, is it appropriate to write as profit for the year or to write loss for the year ? Kindly justify the answer.

IN CASE OF PRIVATE LIMITED COMPANY IF TURNOVER IS LESS THAN RS.1 CRORE IS IT REQUIRED TO GET AUDITED IN INCOME TAX ACT U/S 44AB AS TAX AUDIT?AND IS LIMIT COMPLIANCE OF NOT MORE THAN 5% OF RECEIPTS AND PAYMENT IN CASH REQUIRED TO BE SEEN FOR GETTING THIS COMPANY AUDITED IN TAX AUDIT IN INCOME TAX ACT?KINDLY GIVE ANSWER AS SOON AS POSSIBLE.

in A.Y 2019-20 Turnover 9400000/- and profit less then 8 % audit is done as per rules in a.y. 2020-21 sale 125000 and business close profit approx. 10000 should i need to do 5 year compulsory audit.

Good Evening,

I am lookout for Internal audit plan and checklist for manufacturing company.

Anyone, please help me and I need to it as soon as possible for preparing for some audit.

My email: ialearner01@gmail.com

Thanks in advance & kind regards,

Haider

Respected Sir/Medam
can Income Tax Return Of Limited Liability Partnership firm (LLP) file without DSC ? (in case no tax audit u/s 44AB)

How should we consider normal losses in case of a retail unit for perishable items? Should we add to COGS (as a percent of purchase) or should we reduce from Markup based G/P?
Pls help me as soon as possible???

Have heard about Cheque reversal account but how can we use that to clear unpresneted cheques issued . What is the nature of the account and what entry to be passed to clear pdc issued unpresented to this account.

Respected Sir/s,
Where can I get information to prepare internal audit control questionnaire for manufacturing and retail company operation in cotton textile industry in India ?. My E-Mail: chandra62643@gmail.com

cost audit if once applicable to a company Is it also applicable on subsequent years when the turnover threshold is falls below the limit??please solve the query as soon as possible.
Thanking You

My turnover for FY 2019-20 is Rs. 85,00,000/- and profit is below 6% of turnover, whether tax audit is applicable ??