Auditor Appointment

14 April 2020

If I am running a partnership firm but my turnover from business is Rs.4000000 only and I am apppoined him as auditor his he statutory auditor or tax auditor and when should returns be filled?

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5 Replies

Uday (Article Assistant) (411 Points)
Replied 14 April 2020

Tax Audit is applicable. There is no statutory audit for partnership firm.

Abhishek Selvam O (374 Points)
Replied 14 April 2020

When should he file returns as in this case it is not mandatorily required audit is it 31.7.2020 or 30.9.2020

Uday (Article Assistant) (411 Points)
Replied 14 April 2020

Based on Turnover firm is liable for Tax Audit. Hence due date will be 30th sep

Abhishek Selvam O (374 Points)
Replied 14 April 2020

If his turnover is 50 lacs from business but opted for voluntary audit then when should he file returns 31.7.2020 or 30.9.2020

Uday (Article Assistant) (411 Points)
Replied 14 April 2020

There is no Voluntary Audit Concept.If firm ( other than LLP ) declaring income lower than Sec 44AD , Tax audit is applicable.If tax audit applies, due date is 30th sep