Can anyone tell me, if a pvt ltd company is only passing JV for payment such as Remuneration, Interest and Rent to its Director and no actual payment is made for such expenses. This amount is accumulated in the company's account and carried forwarded every year. is there any issue for above treatment either in tax audit or stat audit?
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yes it us because the statutory auditor needs to consider if there are any book entries being posted in the books merely to deflate profits.
why does the need to follow such a practice
why does the need to follow such a practice
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