Audit report and ITR of Debtor

359 views
User Avatar

Chartered Accountant
91 Points Posted on 08 March 2021
one persom has sold goods to a party worth 33 Lakhs in a year and 29 Lakhs in second year.

Now the debtor is not paying money even after multiple requests for payment. My party want to file case against the debtor but before they want to know how much amount the debtor has shown as due to my party.

How can i get ITR and audit report of the debtor of my party. Can i file a RTI application in this regard??
0 Reply Share Follow
On 08 March 2021 at 08:13 Report
Replies (4)
Quick Summary
A business is owed a significant sum by a debtor who is refusing to pay. Before pursuing legal action, the business wants to ascertain how much the debtor has recorded as outstanding in their own financial records, specifically their audit report and Income Tax Return (ITR). While direct access to a debtor's ITR or audit report is generally not possible through RTI or other means without legal proceedings, options include requesting an account confirmation (though this may be difficult due to the dispute) or initiating legal proceedings based on existing invoices and documentation. If the debtor is a company, their audit report might be accessible via the MCA website.

User Avatar

Chartered Accountant
24588 Points Posted on 08 March 2021
Send a confirmation request to the debtors along with all the details of invoices and documents of sale. After receiving the confirmation you will get a certain information on the balances showed by the debtors. If the debtors don't reply to your request then you can go for court proceedings or file a petition or charge an demand order on the debtors
Reply
On 08 March 2021 at 09:18
User Avatar

Chartered Accountant
91 Points Posted on 08 March 2021
The party want to check what amount the debtor is showing in his accounts and audit report.
Party want to file a court petition too but they will not do anything before knowing the amount due shown by the debtor in his accounts.

i want to know how the party can get debtor's ITR and audit report.
Confirmation letter cannot be asked due to dispute between both the parties.
Reply
On 08 March 2021 at 09:22
User Avatar

Chartered Accountant
24588 Points Posted on 08 March 2021
You can file peitition on the basis of the party's documents and invoices or go for winding up process of debtors
Reply
On 08 March 2021 at 09:57
User Avatar

Consultant
1891 Points Posted on 08 March 2021

You can get the Audit Report of the Debtors from MCA website if its an LLP or a Private Limited Company. But we don't think so there will be any such figure on the face of the balance sheet. 

Account confirmation is the most suitable option. 

Reply
On 08 March 2021 at 11:19

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Gross total income
  2. Export Compliance
  3. Sale of plots in open land
  4. Income tax query
  5. Best CA Inter coaching in laxmi nagar
  6. HOW TO SELL SHARES OF PRIVATE LIMITED COMPANY SOME
  7. Unregistered Association of Persons (AOP) Agreemen
  8. Intimation u/s 245 of income tax act
  9. Ewaybill query
  10. IDS Refund: GSTR-2B Invoice Not Validated in State

More recent discussions | Post

Related Topics :

Loading