Tax audit
This query is : Resolved
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.
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.
26 September 2015
Tax audit is required to be carried out under this situation.
Message likes :
1 times
30 September 2015
Under which section sir?
If in above case assessee is Private limited company...
If in above case assessee is Private limited company...
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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