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Tax audit

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Querist : Anonymous

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Querist : Anonymous (Querist)
13 February 2013 Is Tax Audit compulsory for private limited companies if the limit does not exceed 1 crore?
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CA Suraj Lakhotia

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CA Suraj Lakhotia (Expert)
13 February 2013 Tax audit is not compulsory
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Querist : Anonymous

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Querist : Anonymous (Querist)
13 February 2013 Statutory audit is compulsory and tax audit is applicable only when turnover exceeds the limit.even though it is a private limited company
right?
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CA Suraj Lakhotia

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CA Suraj Lakhotia (Expert)
13 February 2013 Whether it is a private limited or public limited, tax audit is turnover based.
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CA Prashant Gupta

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CA Prashant Gupta (Expert)
13 February 2013 statutory audit in compulsory. but tax audit is on turnover basis. so if turnover is bleow limit then Tax Audit not compulsory
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