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Is this pvt ltd company eligible for ca audit
Dear Member's
My friend start a new pvt. ltd. company of website design+making+service in a.y.2014-15 (month of incorporation-nov'2014).company Ternover is 2.5lac to 3.0lac & share capital is 1lac.Can you explain me company is eligiable for tax audit or other audit's or not.Is company balance sheet are compulsory making done by a CA. Please explain me criteria of above show matter.
Replies (1)
Dear Sir
You need to compliance the statutory audit under companies act. Companies professional receipts are below 25 Lac, hence no tax audit woule be required.
Harish
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