Compliance of it provisions
This query is : Resolved
27 August 2012
My business is not falling under tax audit u/s44AB.
Eg:
my accounts consists of following violations
1.Payment of expenses above Rs.20000/-
2.Payment to related party
3.Unsecured loan taken by cash more than Rs.20000/-
Is it required to check these provision and rectify in the accounts as my accounts are not required to tax audit.
Is there any provision, mandates the same.
if yes under which act
Eg:
my accounts consists of following violations
1.Payment of expenses above Rs.20000/-
2.Payment to related party
3.Unsecured loan taken by cash more than Rs.20000/-
Is it required to check these provision and rectify in the accounts as my accounts are not required to tax audit.
Is there any provision, mandates the same.
if yes under which act
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