Tax Audit is compulsory to whom?
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Answer / rocky
Tax audit is copulsory if t/o is more than 1crore in case of business and 25 lakh in case of professions..
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Answer / ranjith k p
Tax audit is compulsory if the turn over is greater than or equal to one crore
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when i worked finalisation of a firm during 2006-07under kerala vat act in 23-9-06 there is a advancesales tax RS 2170 paid by firm and inthe same month vatpayable is rS.5201 the advance tax is deducted from vatpayable that is 5201-2170=3031 is the vat payable during the month. what are the entries passed in computerised accounting during finalisation in this case please explain
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