ICICI

Itr for pvt ltd co.


Vardan Singh Sengar (Accounts Manager in Private Company)     12 July 2013

Vardan Singh Sengar
Accounts Manager in Private Company 
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Hii.. i want to know the whole procedure of filing income tax return of a pvt ltd co. with a turn over of 25 crore and gross receipts of 25 lacs..the co. is required to submit its tax audit report...please guide me how to file itr??? which itr to select??? and what are the other statutory compliances required?? thanks

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CA CMA CS Ram Pavan Kumar Melam (CA)     13 July 2013

CA CMA CS Ram Pavan Kumar Melam
CA 
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1) Statutory audit 2) Online filing of ROC annual returns; 3) Online filing of income tax returns (ITR6) and tax audit report; 4) Compliance report if applicable 5) Cost audit report if applicable etc.

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Vardan Singh Sengar (Accounts Manager in Private Company)     14 July 2013

Vardan Singh Sengar
Accounts Manager in Private Company 
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is there any difference between tax audit and statutory audit??

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CA CMA CS Ram Pavan Kumar Melam (CA)     14 July 2013

CA CMA CS Ram Pavan Kumar Melam
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Yes there is.

1) Tax audit is applicable for the financial year ended 31st March. Statutory audit can be for the accounting period as per decission of the Board of Directors as per section 210 of the Companies Act, 1956.

2) Accounting standars are applicable to both audits, however to arrive at the tax profit, the provisions of the IT Act to be applied wrt to depreciation, provisions, other allowable expenditure, disallowances etc.

3) There are certain other differences between these two.

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