Tax audit for 2013-14 & 2014-15

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14 March 2016 Dear Sir

Will it be advisable to get the books of accounts audited for FY 2013-14 & 2014-15 of trader having turnover more than 1cr. now ? Please note that the party has not received any notice from IT Department till date.

RICHA KUMAR

RICHA KUMAR (Expert)
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14 March 2016 YES, you books of should get the books of Accounts Audited

CA SURENDRA KUMAR RAKHECHA

CA SURENDRA KUMAR RAKHECHA (Expert)
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08 April 2016 He has not have received any notice from the department because he might have not filed his returns of income. Still the assessee must get his accounts audited. However, he must keep the evidence ready of reasons of his failure to do so in time to avoid penalties.

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