Tax audit
This query is : Resolved
02 April 2013
Dear Experts,
Do we still need to audit and issue report for a private limited company having turnover less than 1 crore?
Do we still need to audit and issue report for a private limited company having turnover less than 1 crore?
02 April 2013
From FY 2012-13 onward Tax Audit limit is Rs 1 Crore. So if turnover is less than 1 Crore Tax Audit is not required.
02 April 2013
Sir but its a pvt ltd company, some CA's told me that since its a Pvt Ltd Company it is mandatory to do the audit irrespective of Turnover? Please clarify.
03 April 2013
Statutory Audit is compulsory irrespective of turnover not Tax Audit.
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