Tax audit

This query is : Resolved

CA Shruti Gupta (Querist)
Follow

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.

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

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.