Tax audit app;icability
This query is : Resolved
18 May 2016
Hi to all,
My query is
Is a one person company is liable to get tax audit even if its turnover is Rs..2,00,000/- and net profit is under loss( it is newly formed) or just filing the income tax return is sufficient or it should be filed along with form 3CA & 3CD
My query is
Is a one person company is liable to get tax audit even if its turnover is Rs..2,00,000/- and net profit is under loss( it is newly formed) or just filing the income tax return is sufficient or it should be filed along with form 3CA & 3CD
18 May 2016
not required to submit 3ca & 3cb you can file simple return.
Message likes :
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19 May 2016
could you please elaborate stating with sections & provisions
26 July 2025
Exactly! For a **One Person Company (OPC)** with a turnover of only ₹2,00,000 and a loss, **tax audit under section 44AB is not applicable** because the turnover is well below the threshold (₹1 crore or ₹10 crore depending on the nature of business).
So, you just need to **file the Income Tax Return normally** without attaching the tax audit report (Forms 3CA & 3CD).
So, you just need to **file the Income Tax Return normally** without attaching the tax audit report (Forms 3CA & 3CD).
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