Interested to Buy Any Domain ? << Click Here >> for more details...
Is tax audit compulsory for companies irrespective of their
income?
- 2 Answers
- 12481 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 |
can previous year be greater than a period of 12 months??
what is the Intrest Rate for CST Delay Payment
1 Answers ABC, Amico, Vertimo,
How treat TDS & TCS in manual or Tally 9 softwere ?
How filing quarterly return HUF TDS?
Please some one tell me what is the VAT or WCT rate for works contract at Tripura
assume we have a loss for the last finacial year ,when we are calculating income tax for this year how would be affected last year loss
What is Tax refund?
1 Answers Deloitte, Ernst Young, Freedom Chemicals, Wipro,
in a company, if employee contributing To PF equal to employer contribution. can he voluntarily stop his contribution while he is in service with that company?
WE HAVE PAID SALARY 200000 PER MONTH a)COMPANY ALSO PAID HER HOUSE RENT WHICH IS 12000/- MONTH. b)FURNITURE PROVIDE WHICH COST IS 175000/ I WANT SUGGESTION HOW DEDUCTED HER TDS PER MONTH
please explaine the procedure cst calculation if we got credit?
what is the meaning of TDS.AND it will be what percentage.who is supposed to pay TDS.
what is the size of balance sheet ?
Audit 
