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
- Forgot to update debit note in gst
- Relief Calculation u/s 89 of ITax 1961 in TableA Form10E
- Can we claim ITC in 28%
- Wrongly goods delivered to other state
- Applicability of RCM on Frieght Inward supplies received from un-registered person
- Query Regarding Income Tax Rate on Gain from Transfer of Partnership Stake (LLP Partner)
- Running non ac bus under contract with roadways
- GST ITC on Liquidated damages
- Ca final exam registration may-26
- Expenses add back in profit
- Tds on GST in connection with sale to public company
- B2B Amendment
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- Regarding Advance Tax not claimed in the Return of Income for A.Y. 2025-26
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
