Tax audit
This query is : Resolved
CA Shruti Gupta
(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.
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
(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.
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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