income tax

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Querist : Anonymous

Querist : Anonymous (Querist)

28 February 2011 pl guide me IF A PVT LTD CO.DOESNOT MAKE ANY BUSINESS DURING THE YEAR OR REVENUE RECEIPT IS BELOW 40LAKH.IS TAX AUDIT AND FORM 3CD REPORT IS APPLICABLE TO HIM.PL SUGGEST ALONG WITH THE RULING.THX

CA KRISHNA KUMAR DARUKA

CA KRISHNA KUMAR DARUKA (Expert)

01 March 2011 Please indicate the type of revenue receipt like whether it is sales or receipts in profession.

Querist : Anonymous

Querist : Anonymous (Querist)

01 March 2011 thank u Darua ji.The co.in question is a school n have lease-out the premises to other educational institute.No sales transction but receipt as lease rent below 40lakhs.I think audit report is must in a co,The querry is whether 3CB OR 3CD is required or not ? pl.if possible refer

CA KRISHNA KUMAR DARUKA

CA KRISHNA KUMAR DARUKA (Expert)

01 March 2011 As the gross receipts are below 40 lakhs tax audit is not applicable, hence no 3CB or 3CD is required. Only regular audit report under The Companies Act is required.

Querist : Anonymous

Querist : Anonymous (Querist)

01 March 2011 Thank u very much.

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