Private limited company
This query is : Resolved
rumy nagwaswala
(Querist)
26 September 2014
If a private limited company is to be audited WHOSE TURN OVER IS BELOW 1 CRORE, IT IS NOT LIABLE TO TAX AUDIT
BUT THE FORM 3CD (as its is required in the case of Pvt Ltd. co) asks us to submit the sub section in point Number 8 of the Form No. CD AS TO UNDER WHICH SUB SECTION THE AUDIT REPORT IS TO BE GIVEN.
SO IF THE TURNOVER OF THE COMPNAY IS BELOW ONE CRORE THEN WHAT IS THE SOLUTION.
BUT THE FORM 3CD (as its is required in the case of Pvt Ltd. co) asks us to submit the sub section in point Number 8 of the Form No. CD AS TO UNDER WHICH SUB SECTION THE AUDIT REPORT IS TO BE GIVEN.
SO IF THE TURNOVER OF THE COMPNAY IS BELOW ONE CRORE THEN WHAT IS THE SOLUTION.
Nikhil Kaushik
(Expert)
26 September 2014
if the turnover is below 44AB limit, then tax audit wont apply to the company. as simple as that.
01 October 2014
what is confusion? once it is below 1 crore no tax audit is applicable..
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