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Tax Audit for the Asst year 2019-20
one of the Private Limited company engaged in Business has Turnover is less than one Crore but incurred a Net Loss of Rs 40 Lakhs Whether to file Tax Audit Reports I.e. Form 3CA and Form 3CD for the Asst year 2019-20 please clarify
Replies (1)
Since turnover is below 44AB limit of 1 crore, tax audit is not necessary.
Net loss of Rs 40 Lakhs is not relevant factor for audit eligibility.
Net loss of Rs 40 Lakhs is not relevant factor for audit eligibility.
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