I run a company, this is first Corporation tax i need to fill.
In this first year company didn't made any income but only expenditure on establishment with a net loss of around 2 lakh.
My question-
1. Is it necessary to get audit for the company as there is no profit/turnover?
2. Is 3CD form compalsory with Corporation tax as company didn't made any profit?
[plz explain section 44AB and 44AD for a company, i couldn't understnd.]
Somebody told me no audit as well as no 3CD form is required as ternover is not over 60 lakhs. Is it true?
CAclubindia
