Why is the audit report required for loss from business .

This query is : Resolved 

03 January 2014

Hi All, Why is the Audit report required for loss from business.

MJ Krishnamurthy (Expert)
03 January 2014

An audit report only can confirm that your accounts were correct and the declaration of loss is acceptable.On the basis of an audit report only any tax liability can be decided correctly....mjk

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