Tax audit
This query is : Resolved
29 September 2012
Whether Tax Audit is Applicable in film production, if there in no release of film in the year, but the cost of production is more than 60 Lacs, & has been shown sa current assets
29 September 2012
For the purpose of tax audit turnover during the year is important i.e sales during the year. Purchases or any other expenses etc.. doesn't consider for the purpose of turnover and not relavent for considering turnover for the purpose of tax audit.
So in your case during the year sales is nil. So turnover doesn't exceeded Rs.60 lacs so tax audit not applicable.
OM SAI SRI SAI JAI JAI SAI
So in your case during the year sales is nil. So turnover doesn't exceeded Rs.60 lacs so tax audit not applicable.
OM SAI SRI SAI JAI JAI SAI
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- Regarding TDS Applicability For Director Remuneration
- LC charges in relation to Asset purchased should be Capitalised ?
- Form 121 & TDS deduction
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- Copyright software
- Regarding appeal to GSTAT
- Multiple trade mark
- Value of property in capital gain
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
