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Tax audit

This query is : Resolved 
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(Querist)
15 September 2016 Dear Member

Can a CA do tax audit of a company even if its gross receipts are less than Rs. 1 Crore. ( Either profit or Loss).

Is there any option for voluntarily file tax audit if assesses request.
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Amol S Joglekar

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Amol S Joglekar (Expert)
15 September 2016 Income tax Act does not require a Company to get its account TAX audited if the turnover is less than 1 crore.
On top of that, if the management insists, CA may conduct the audit. The fact should be clearly disclosed in the audit report.
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