Regarding itr
This query is : Resolved
sumaira bhat
(Querist)
13 October 2018
IS IT NECESSARY TO FILE AUDIT FOR A COMPANY IF THE TURNOVER IS LOW
CA Ankit R Momaya
(Expert)
14 October 2018
Filing of Income Tax Returns for Companies is Mandatory as per Income Tax Act, 1961 and also books have to be audited as per Companies Act, 2013.
15 October 2018
If Turn Over exceeding 1cr then Income Tax Audit applicable...
In case Turn Over not exceeding Rs 1Cr then No need Income Tax Audit for the Company. As per sec 44AB "The Company Audit is enough of less than Rs 1Cr".
In case Turn Over not exceeding Rs 1Cr then No need Income Tax Audit for the Company. As per sec 44AB "The Company Audit is enough of less than Rs 1Cr".
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