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Is this pvt ltd company eligible for ca audit

Internal Audit 508 views 1 replies

Ramesh Sharma

Senior Accountant

42 Points Joined September 2013

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)

Harish Kumar

Salaried

50 Points Joined October 2007

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