Tax audit

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Nikhil Jajoo (Querist)
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18 August 2013 Individual having more than one proprietorship firm like 3 firm and out of 3, 2 firm are cover in tax audit, then Individual assesse require a separate tax audit for both firm "or" combine one tax audit for both firm.

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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18 August 2013 You are not clear about your question but any individual having one or any number of firms having turnover in gross totaled together shall have to get the audited report u/s 44AB if the total turnover of all the firms added together exceeds 1 Cr.

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Nikhil Jajoo

Nikhil Jajoo (Querist)
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18 August 2013 Sir
If one firm Turnover exceeds 1 Cr. but another firm turnover not exceeds 1 Cr. than
disclosed the detail of both Firm in PART -B of Tax Aduit

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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18 August 2013 All the three proprietory concerns has to be audited. If auditor is same for these three concerns, only one 3CB and three 3CD is required. While preparing the ITR figures of three concerns can be consolidated.

Ganeshbabu K

Ganeshbabu K (Expert)
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18 August 2013 Dear sir please let me know how deal with tax audit report in case of private limited company subjected to tax audit also having branch office in other state where manufacturing activity is being done and here also turnover is more than 2 crores
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Please let me know how to prepare 3CD& 3CB

CA Mukesh Jain S

CA Mukesh Jain S (Expert)
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18 August 2013 When a person is a proprietor of multiple business, then turnover of all the business put together needs to be considered for 44AB & if the turnover exceeds 1cr then all the business have to be audited.

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