REGARDING APPLICABILITY OF TAX AUDIT FOR BUSINESS WHICH IS NOT YET STARTED
This query is : Open
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Suresh S. Tejwani
(Querist)
11 July 2022
ABC is a partnership firm. ABC has no sales during the assessment year 2022-23 as it's business is not yet started. But the firm has purchase during the year.
Whether the firm ABC is laible to tax audit or not ?
OR whether the firm ABC is laible to income tax return ?
Whether the firm ABC is laible to tax audit or not ?
OR whether the firm ABC is laible to income tax return ?
CA R SEETHARAMAN
(Expert)
11 July 2022
ABC is not liable for tax audit.
CA Rashmi Gandhi
(Expert)
11 July 2022
No audit is required in that case
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