Is tax audit applicable for co-operative housing society?The society has already done audit under co-operative societies act.
This is co-operative housing society and not engaged in any other business.
Notice under section 139(9)
is issued for the reason books of accounts are not audited.Is it necessary to submit tax auditreport in such case?
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Tax Audit for co-operative housing society.
Replies (6)
Audit report and audited accounts are required and that you carried out under co-operative Housing Society Act.
Co-operative Housing society Income is not a business income and hence no tax audit requirement.
Under which head of ITR , You have declared Housing Society Income ??
May be a technical error by CPC
@ kapadia pravin.
Thank you for your response.
ITR 5 has been filed
Thank you for your response.
ITR 5 has been filed
That's correct
Are you sure 139(9) is issued for audit of Accounts ?
Please re-check the reason for defective return
Are you sure 139(9) is issued for audit of Accounts ?
Please re-check the reason for defective return
@ kapadia pravin.
Notice is issued under section 139(9).
Error Descripttion:-The assesse has shown income under PGBP.It is in excess of 1 crore. However, the books of accounts have not been audited.
Notice is issued under section 139(9).
Error Descripttion:-The assesse has shown income under PGBP.It is in excess of 1 crore. However, the books of accounts have not been audited.
Housing Society income is not to be declared under PGBP
income please declare under IFOS
File revised return asap in ITR5 only
income please declare under IFOS
File revised return asap in ITR5 only
Thank you Sir for your kind guidance.
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