filing of a income tax return
This query is : Resolved
31 December 2008
dear Sir,
is it every company is liable to Tax Audit ?
Even the Company is under progress of Capital Asset Formation to Construct a building for operations.
There is no turnover for the company
is it every company is liable to Tax Audit ?
Even the Company is under progress of Capital Asset Formation to Construct a building for operations.
There is no turnover for the company
31 December 2008
If there is no turnover,report in form 3CA need not be furnished. Hence tax audit u/s 44AB do not apply.
CA Tilak Raj Sharma
(Expert)
31 December 2008
Tax audit is only applicable if turnover exeeds 40lakhs or other condition given in section 44AB qualifies.
Every Company required to get it accounts audited as per company act not as per income tax act.
Every Company required to get it accounts audited as per company act not as per income tax act.
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
- EPF ECR NEW FILE SEP 17TH 2026
- Gst registered proprietorship firm
- GST Intimation due to Government took possession of Business Premises under PPE Act
- TDS on purchase of under construction property from a reseller
- Capitalgain tax purposes for valuation report compulsory
- Non filing of I T Returns
- SALARY CAN BE CAPITALIZE
- TDS on Fixed Assets purchased
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- TAX AUDIT ON PROFESSIONAL INCOME
- Under marginal scheme
- Import of Software Service.
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- GST on Renting godown to KFCSC for Storage of Raagi
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
