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Tax audit

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12 November 2014 Hallo Friends, I am just filing an Income tax return of AOP which is producing feature film. Last year entire production expenses were carried over to WIP as film was under production. Expenses incurred are to the tune of Rs 5.00 Crores. Whether Tax Audit is applicable? We have not prepared P & L as there was no sale or other income and this is the first year of operation. Please advice
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
12 November 2014 No. Tax audit is not applicable......
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