Tax audit under sec. 44ab

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k.jayakrishnan (Querist)
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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)
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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)
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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)
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17 July 2013 Sir,

Thank you.

Regards
Jayakrishnan.K
goldenjayan@gmail.com

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