tax Audit

Please tell me about audit tax

Please tell me about audit tax

Mr akash you have to check the fallowing details
1.whether proper books of accounts maintained or not
2.respected correct accounting policies are correctly fallowed are not
3.adequate disclosure is available or not.
4.if they are deducting tds you have check FORM 26Q
5. you have to check 26AS
6. For this AY you have to check indirect taxes like VAT,CST, SERVICE TAX AND OTHER etc
7. for this period you have to check during demonitisation whether cash deposits exceeds 2lacs
8. for each and every item you have to check vouchers. until you get satisfy.
9.ANOTHER POINT IS YOU HAVE TO CHECK THAT IF ANY EXPENDITURE IS ELIGIBLE TO10 DEDUCT TDS IF ASSESSE IS NOT DEDUCTED TO SUCH EXPENDITURE YOU HAVE TO DISALLOW 30 % of EXPENDITURE.
10 . I think it is enough for tax audit.
finally tax audit u/s 44AB is applicable to professionals whose turnover exceeds 50 lacs
for manufacturer it should exceeds 2crores
if any further doubt send query.....
all the best.

If the company wants to choose presumptive taxation then it need not to maintain the books of accounts and it can pay tax at 8 percentage of gross receipts or turnover.
Continuing above if the gross receipts or total sales is grater than 1 crore but less than 2 crore then is it liable to get tax audit under 44AB ?

Thanks sir

sorry the question is wrong