Tax audit under sec. 44ab

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k.jayakrishnan (Querist)

10 July 2013 sir,

Our Company (Pvt. Ltd) is a dealer in building construction materials.

I have a few queries:

1. What is the turnover criteria for compulsory tax audit for the above category ?

2. If applicable, what is the time limit for completion of Audit.

3. What are the documents to be verified during such audit?

4. If MAT / Imcome Tax is not payable due to Loss for the financial year 2012-13, is tax audit necessary and if so what is the time limit.

5. When ( by which date) do we have to file Income Tax returns, and is e-filing necessary for our category.

Kindly resolve.

Thanks
Jayakrishnan.K
email ID:goldenjayan@gmail.com

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

11 July 2013 1. Rs 1 Crore
2. 30.09.2013 for AY 2013-14.
3. Books of Account, Vouchers, relevant resolutions and supporting documents for transactions undertaken, TDS details etc.
4. Mat: Applicability will be checked by the auditors. Tax Audit is based on Turnover and not on business results.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

11 July 2013 Upto 30.09.2013 you have to file your return by getting completed the Audit. E-filing Mandatory. Digital Signature of Directors will also be required.

k.jayakrishnan

k.jayakrishnan (Querist)

17 July 2013 Sir,

Thank you.

Regards
Jayakrishnan.K
goldenjayan@gmail.com

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