Private Limited Company Incorporated on 23/01/2019 but till 31.3.2020 there is no turnover means NIL Sales. So can we do audit of 15 months (1.1.2019 to 31.3.2020)
and Prepare Statutory audit report for 15 Months ? if yes then any additional disclosure required in audit report?
My company is holding of subsidiary public company. All other conditions are satisfied. Whether only for this reason, will IFC be applicable?
My company is holding of subsidiary public company. All other conditions are satisfied. Whether only for this reason, will IFC be applicable
Rs.2,83,562 bank loan processing fees and RS.5,49,361 Bank CGTMSE Scheme fees paid in February,2020 for loan of purchase of plan and machinery but plant and machinery put to use in July,2020.
So whether Processing fees and cgtmse fees capitalized or not?
My query is as below:
A.Y.2018-19 TURNOVER RS.40 LACS RETURN FILE UNDER SECTION 44AD
A.Y.2019-20 TURNOVER RS.1.80 LACS AUDIT DONE UNDER CLAUSE 44AB(a) because turnover exceeding specified limits.
now A.Y.2020-21 TURNOVER RS. 30 LACS. Whether I can File i.t.return under section 44AD FOR A.Y.2020-21?
note: I have done audit for a.y.2019-20 under clause 44AB(a) but not under clause 44AB(e) because my turnover exceeding Rs. 1 crore for that year?
Please reply fast.
kindly reply above query whether should go for audit or not?
One of my client is registered as Trust but not under IT,but getting PAN under Trust name. Trust Started in 2000 till now no IT return was filed. During 18-19 its TO 80L & Profit 3.5L. My Query is
1. Whether it is Trust or AOP under IT.
2.Which ITR (5 or 7) to be filed.
3. whether Audit by CA is mandatory.
In case of speculation Income in Shares,
If sales & Purchase Turnover is more than 5Cr then is TAX Audit applicable because of Intra day transactions ? Assessee has no other income under head PGBP.
Income tax audit individual due date comfirmation 31st oct or 31 th nov plz send date
Can audit report on standalone and consolidated financial statements be signed on different date??
Please someone guide me. I need answer on urgent basis.
MY TURNOVER 3.5 CRORE AND MY TOTAL RECEIPT AND PAYMENT THROUGH BANK SHOULD I NEED MY ACCOUNT AUDITED . IF AUDIT NOT APPLICABLE THEN IT IS NECESSERY TO SHOW PROFIT 6%.
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