Company audit as per income tax act
This query is : Resolved
09 October 2017
Dear Sir,
A company’s turnover is Nil in current year. Should auditor file an audit report in 3CA-3CD as per Income Tax Act? Or file only Statutory Audit Report as per Companies Act (for ROC part)?
Thanking You
A company’s turnover is Nil in current year. Should auditor file an audit report in 3CA-3CD as per Income Tax Act? Or file only Statutory Audit Report as per Companies Act (for ROC part)?
Thanking You
09 October 2017
As you turnover is NIL so you are not required for Tax audit i.e you are not required to file an audit report in 3CA-3CD as per Income Tax Act
Message likes :
1 times
09 October 2017
But audit under Co's Act,2013 is compulsory though turnover is 0.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- SFT Cash Deposit in Current Account
- Value of property in capital gain
- FORM 26A APPLICABILITY
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
