Dear Experts, I have 2 very important questions for which I require your precious advice.
1.A Company may follow accounting as per received basis and not on accrual concept. My question is if there is a mismatch showing the amount of INCOME as per 26AS (which happens to be 1.16 crores i.e liable to Tax Audit) and Income as per accounts ( i.e 98 lakhs) the deficiency happening since the company is not maintaining books on accrual concept, can he be saved from tax audit or will he be penalized and scrutinized since there is a mismatch from 26as??
2. If an auditor gives a qualified opinion as per tax audit under 44ab, does it mean prone to scrutiny assessment?? Require your urgent advise at earliest. Thanks
CAclubindia
