In case of companies and partnership firms, When turnover is less than 1 crore and profit is less than 8%/6% as the case may be..
In this case whether tax audit is mandatory???
Menu
Tax Audit in case of companies and partnership firms
Replies (4)
What do you mean by companies ? is it Pvt Ltd or proprietory concern ? pl clarify
@ kapadia ji Its mean Private ltd company
No need Tax Audit if Turn Over less than 1cr. But, Filing required u/s 44AA with BOA as per sec.
@ Suryadeep
You mentioned profit is less than 8%/6% and if it is in the context of presumptive taxation under 44AD ------- then please note that 44AD is not applicable to Private Limited Company.
You mentioned profit is less than 8%/6% and if it is in the context of presumptive taxation under 44AD ------- then please note that 44AD is not applicable to Private Limited Company.
Recent Topic
- Due date of ITR for Option Trader
- Cancelled invoice entry
- Debt Mutual Fund Tax in New Regime
- Amount distributed by a Co-op. Hsg Society to its
- Delayed reported invoice in GSTR1
- Kusumgar IPO Listing Date: Shares Debut on BSE, NS
- When is Diwali in 2026? Date, Muhurat Timing and D
- Amount received by son from PPF closure proceeds o
- Clarification on Nature of Payment Code for NRI Pr
- Fee received as Independent Director
Related Topics
CAclubindia
