Tax audit applicability
This query is : Resolved
15 September 2014
Whether tax audit is applicable when there is only work in progress exceeding Rs. 1 crore and there is no profit or loss..?
15 September 2014
tax audit is made applicable on the basis of turnover and not on profit/loss. Of if the turnover exceeds Rs 1 cr, then audit will be applicable compulsorily.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Income tax return change regime form necessary or not?
- EXEMPTION OF LONG TERM GAIN UNDER SECTION 54F
- Refund of Rs.4,00,000/- pursuant to Appeal Order – Deceased Proprietor & Closed Bank Account
- Resignation of auditor and appointment and cfss
- Machinery taking back from repair work shop
- MISMATCH AMONG GROSS TURNOVER AIS. ACTUAL SHOWING GST PORTAL AND GENIUS FROM GST PORTAL
- Processing delay
- Composite medical service contract
- Partnership firm under Section 44AD
- GST Registration DELHI MUMBAI
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
