Interested to Buy Any Domain ? << Click Here >> for more details...
Is tax audit compulsory for companies irrespective of their
income?
- 2 Answers
- 12378 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / tax beginner
AFAIK
Tax Audit is compulsory for Listed Companies. Tax Audit is
conducted to not only calculate Taxable Income as per IT
Act because it may differ from Income(Profit) as per
Companies Act but also for certification by Statutory
Auditors that The company is arriving at taxable Income
after taking into consideration all relevant
clauses/sections of Income Tax Act 1961.
Tax Audit is conducted to also verify / certify whether the
Book Profit shown by the Assesee is properly arrived at for
the purpose of Tax Payment and is in compliance with
relevant sections of the Income Tax Act.In Tax Audit
various deductions claimed by Assesse are disclosed,If any
deviation from standard clauses is found the same is
disallowed and added back to profit. e.g. Clause 17(e)
Fines and penalties etc.
Proper Disclosure is also one area wherein the Tax Audit is
required , I think (even though am not sure) that TAR is
filed with ROC for public usage along with 3CA and 3CD
| Is This Answer Correct ? | 4 Yes | 2 No |
what is e-1 sales
please provide to us the rules of wct in andhra pradesh (Hyderabad)
WHAT ARE SERVICE TAX RATES ON AUTOMOBILES PARTS
What is means by Central Excise ? How to calculate Central Excise ? Central Excise form No. is ?
if a buyer paid full cst 14.5% for a redistrable assect then whatis the registration process?
what is the Income tax updated slab?
what is document require for vat registration?
What is Advance Payment of Tax?
Can individual deduct his expences from his income at the time of his returns? Any scop is ther in Form 16A to deduct the expences from income? Which kind of expences is allowed to deduct in Form 16A?
Which form we use for depositing Service Tax
if i am running a tank lorry and the income of the tank lorry comes under haryana VAT 2003?
WHAT WE DO FOR SERVICE TAX IF A PURCHASER RAISE A DEBIT NOTE FOR OUR SERVICE BILL. PLEASAE EXPALAIN THE PROCEDURE WITH EXAMPLES
Audit 
