Tax audit

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PARTH DOSHI (Querist)
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26 September 2015 Dear sir,

Please suggest me whether tax Audit (3CD) Report required in below situation...

Sales - NIL
Purchase - Rs. 2 Crore
Net Loss - Rs. 20 Lacs (As Per P&L)

Kindly suggest me the Solution as per Income Tax Act, 1961.

Amol S Joglekar

Amol S Joglekar (Expert)
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26 September 2015 Tax audit is required to be carried out under this situation.

Message likes : 1 times

PARTH DOSHI

PARTH DOSHI (Querist)
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30 September 2015 Under which section sir?
If in above case assessee is Private limited company...

Amol S Joglekar

Amol S Joglekar (Expert)
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30 September 2015 under the definition of turnover. The meaning of the word TURNOVER has wide scope and hence tax audit is required in your case.

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