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15 January 2021 at 15:25

What is Risk Crystallisation?


Can anybody explain what is Risk Crystallisation?

Thanks in advance,

12 January 2021 at 17:00

Audit related queries

If a Pvt ltd filed tax audit in last f.y. 2018.19 and but this f.y. 2019.20 turnover is 48 lac only so query is that this f.y. 2019.20 tax audit is mandatory if he has filed last f.y. 18.19 tax audit???

12 January 2021 at 07:59

UDIN related query

As per income tax notification (Kindly update the UDIN latest by 15th January, 2021 for the audit report/certificates uploaded from 27th April, 2020 onwards to avoid invalidation.) Query is that online UDIN updation On IT portal only for uploaded from 27.4.2020 is mandatory OR form 25.10.2018 audit uploaded also mandatory?

11 January 2021 at 12:04

Tax Audit For FY 2019-2020 Extension

Can extension will be granted for Tax Audit Report Uploading from 15-Jan-21

Hi all, Whether Tax audit limit of 60 per CA is applicable to Tax Audit conducted having turnovers below 1Cr ?

08 January 2021 at 22:40

Interest Free Unsecured Loan to Trustee

A trust registered u/s 10(23C) running educational institution has given Interest Free Unsecured Loan to its trustees.
Is the auditor required to report the same in Form 10BB?
Please also guide about tax implication of this Interest Free Unsecured Loan.

06 January 2021 at 12:24

Private limited tax audit query

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???

05 January 2021 at 12:35


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

05 January 2021 at 12:35

Tax audit query

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 :