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This query is : Resolved
25 November 2014
During the previous year, assessee was carrying out a sole proprietorship business for april 2013 to december 2013. He converted his proprietory business to a private limited company from january 2014.
i have following queries :
1. whether AMT will be applicable or MAT will be applicable ?
2. what are the provisions required to be checked while conducting tax audits ?
3. whether 2 returns will required to furnish or 1 ?
4. which form to be filled ITR4 or ITR6 ?
5. what other compliances are required to be checked ?
please help me in other matters which are required to be checked or take care while performing audit ?
thank you
i have following queries :
1. whether AMT will be applicable or MAT will be applicable ?
2. what are the provisions required to be checked while conducting tax audits ?
3. whether 2 returns will required to furnish or 1 ?
4. which form to be filled ITR4 or ITR6 ?
5. what other compliances are required to be checked ?
please help me in other matters which are required to be checked or take care while performing audit ?
thank you
25 November 2014
There are now 2 entities as per income tax.
01 Individual and 02. Company
So you need to prepare 2 returns one of individual and another of company.
Company's accounts are required to be audited....Statutory Audit.
01 Individual and 02. Company
So you need to prepare 2 returns one of individual and another of company.
Company's accounts are required to be audited....Statutory Audit.
25 November 2014
but all the conditions specified u/s 47 are satisfied, still he is required to furnish 2 returns ?
25 November 2014
There are 2 entities now.
Individual and
Company.
The income tax return is required to be filed. (If individual is having income less than taxable limit, then that individual need not file the return)
Individual and
Company.
The income tax return is required to be filed. (If individual is having income less than taxable limit, then that individual need not file the return)
25 November 2014
thank you sir,
whether all the 2 formalities of income tax act is required to follow?
i.e 2 audits, 2 3cb 3cd, two returns,
whether all the 2 formalities of income tax act is required to follow?
i.e 2 audits, 2 3cb 3cd, two returns,
25 November 2014
you have to take audit if required
for company 3CA and 3Cd
for prop 3CB & 3CD
for company 3CA and 3Cd
for prop 3CB & 3CD
25 November 2014
If the turnover limits are crossed, then you have to do the tax audit .... may be in both the cases.
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